Calculate the amount of expense that should be reported

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Reference no: EM131970364

Problem

The records for Todd Inc. showed the following for 2017:

                                      Jan. 1              Dec. 31
Accrued expenses            $1,220             $2,240
Prepaid expenses             780                  930

Cash paid during the year for expenses, $40,300

Calculate the amount of expense that should be reported on the income statement.

Reference no: EM131970364

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