Walter started his pharmacy a few years ago. This year, he collected $94,000 from his customers and paid $42,000 in expenses. At the beginning of this year, his customers owed $7000, and he owed his suppliers $2900; and his truck depreciation for the year was $9200. Using just this information:

What is this year's cash profit?

What is this year's accrual profit?

Answer rating: 100% (QA)

To calculate this years cash profit we need to subtract the total ... View the full answer