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  • May 25, 2009, 02:19 PM
    CHRISSIEANN31
    Accounting, cash basis and accrual basis
    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. Calculate
    The first year’s net income under both the cash basis and the accrual basis of accounting.
  • May 25, 2009, 08:59 PM
    morgaine300

    Please see the guidelines for posting homework problems:
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