Solution-What amount of net income will sunland report

What amount of net income will sunland report

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Question - In its first month of operations, Sunland earned $64400 in service revenue, $4100 of which was on account and still outstanding at year-end, with the balance received in cash. The company incurred operating expenses of $47400. Of these expenses, $2200 was still owed on account at year-end. What amount of net income will Sunland report on its income statement for its first month if it uses cash-basis accounting?

Reference no: EM133180784

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What amount of net income will sunland report

Reference no: EM133180784

Reference no: EM133180784

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