Multiple Choice
La More Company had the following transactions during 2013.
-Sales of $4,500 on account
-Collected $2,000 for services to be performed in 2014
-Paid $1,325 cash in salaries
-Purchased airline tickets for $250 in December for a trip to take place in 2014
What is La More's 2013 net income using cash basis accounting?
A) $5,175
B) $675
C) $4,925
D) $425
Correct Answer:
Verified
Correct Answer:
Verified
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