Question: Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting. Revenue recognized

Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting. Revenue recognized $19380 Accounts receivable 3060 Expenses incurred 7400 Accounts payable (related to expenses) 770 Supplies purchased with cash 1836 O $11980 $12434 $14270 59690

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