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Claymore Corporation maintains its book on a cash basis. During 2013, the company collected $825,000...

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Accounting

Claymore Corporation maintains its book on a cash basis. During 2013, the company collected $825,000 in fees from its clients and paid $512,000 in expenses. You are able to determine the following information about accounts receivable, supplies, prepaid rent, salaries payable, and interest payable:

In addition, 2013 depreciation expense on office equipment and furniture is $55,000. Required: Determine accrual basis income for 2013.

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