Harden also prepaid 3750 cash for expenses that would be, Ask an Expert

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In its first year of operations, Harden Co. earned $39,000 in revenues and received $33,000 cash from these customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at yearend. Harden also prepaid $3,750 cash for expenses that would be incurred the next year. find out the first year's net income under both the cash basis and the accrual basis of accounting.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946942

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