Multiple Choice
During 2016,a company makes credit sales of $600 000,of which $350 000 is collected at year-end.It pays $220 000 in expenses and owes $20 000 for electricity used during 2016.Profit according to accrual accounting is:
A) $130 000.
B) $380 000.
C) $360 000.
D) $710 000.
Correct Answer:
Verified
Correct Answer:
Verified
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