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In its accural-basis income statement for the year ended decemember 31, 2008, Dart Company reported revenue of $1,750,000. Additional information follows:
Accounts Receivables 12/31/07 $375,000
Uncollectible accounts written off during 2008 20,000
Accounts Receivables 12/31/08 505,000
Required:
Under the cash basis of income determination, how much should Dart report as Revenue for 2008?
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