Question: Given the data below, determine net income under the cash basis of accounting. Revenue earned $14,000 Accounts receivable 3,000 Expenses incurred 7,250 Accounts payable (related

Given the data below, determine net income under the cash basis of accounting. Revenue earned $14,000 Accounts receivable 3,000 Expenses incurred 7,250 Accounts payable (related to expenses) 750 Supplies purchased 1,800

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