Question: Question 10 points Save Answer 10) in s first year of operations, Grace Company reports the following: Earned revenues of $60.000 $5,000 cash received from

Question 10 points Save Answer 10) in s first year of operations, Grace Company reports the following: Earned revenues of $60.000 $5,000 cash received from customers incurred expenses of $35.000 (331,000 cash paid toward them: Prepaid 58.000 cash for costs that will not be expensed until next year. Net Income under the accrual basis of accounting is A $17.000 B 21.000 $13.000 125.000 None of the answer choice is correct

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