Question: Given the data below. for a firm in its first year of operation determine net income under the cash basis accounting. revenue recognized 18500. accounts

Given the data below. for a firm in its first year of operation determine net income under the cash basis accounting. revenue recognized 18500. accounts receivable 2500. expenses incurred 7440. accounts payable (related to expenses) 710 supplies purchased 1790. a. 7480 b. 12850 c. 9270 d. 9230

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