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Wilton Company had the following transactions during 2010.

* Sales of $5,400 on account
* Collected $2,400 for services to be performed in 2011
* Paid 1,250 cash in salaries
* Purchased airline tickets for $300 in December for a trip to take place in 2011

What is Wilton's 2010 net income using cash basis accounting?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M943929

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