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Given the data below for a firm in its first year of operation, determine net...

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Accounting

Given the data below for a firm in its first year of operation, determine net income under the cash basis of accounting.
Cash received from customers
Accounts receivable
Cash paid for expenses
Accounts payable (related to expenses)
Prepaid rent for next period
$51300
13680
29640
3420
7980
$13680
$21660
$23940
$31920
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