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The business total revenues for 2012 were 480000 and total

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The business' total revenues for 2012 were $480,000, and total expenses for the year were 350,000. How much was the business's net income (or net loss) for 2012? Write the equation to compute the company's next incomes, and indicate which element is a debit and which is a credit. Does net income represent a net debit or a net credit?

Reference no: EM13599043

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