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How much is the profit made in August

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Question - On August 1 a bookstore purchased 80 copies of New York Times best seller for 6 dollars each in cash. The sales price is set at 10 dollars each. The bookstore sold 70 copies to a school in August but was paid in cash in September. The bookstore sold the rest 10 copies in September to retail customers and get paid in cash when the books are sold. Based on accrual accounting, how much is the profit made in August?

Reference no: EM132578154

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