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What the Andy accrual basis net income

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Question - Andy's dry cleaners maintains its records on the cash basis. During 2020, Andy's collected $72,000 from customers and paid $21,000 in expenses. Depreciation expenses of $5000 would've been recorded on the Accrual basis. Over the course of the year, accounts receivable increased $4000, prepaid expenses decrease $2000 and accrued liabilities decreased $1000. What the Andy's accrual basis net income?

Reference no: EM133051645

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