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Accounting

Problem

The records for Todd Inc. showed the following for 2017:

                                      Jan. 1              Dec. 31
Accrued expenses            $1,220             $2,240
Prepaid expenses             780                  930

Cash paid during the year for expenses, $40,300

Calculate the amount of expense that should be reported on the income statement.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92808017

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