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Question - This past spring, Lana borrowed $2000 from her aunt to start up a house-and-fence painting business. The business is going really well and there is a waiting list of customers. However, Lana has managed to land a volunteer training position at a company that she would like to join sometime in the future. She still owes her aunt $575, and she will have no income for the next nine months if she takes that position.
Required -
What are Lana's financial obligations and commitments?
What is her ethical obligation in this situation?
What are her options for solving the dilemma? Which option would you suggest for her? Explain your choice.
Analyze how cash and accrual accounting differ for each of the decisons/events listed in the above scenario and describe the proper accrual accounting for each.
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Discussion Board consisting of 400-500 words describing your initial impression of accounting and intellipath
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