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A) Peach Computer reports net income of $158,000. Included in net income is a gain on the sale of land of $16,500. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $28,000, an increase in inventory of $16,500, and a decrease in accounts payable of $48,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91789357

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