What is the companys 2021 net income using cash basis

Reference no: EM133655037

Question: Terps Company had the following transactions during 2021: Sales of $9,000 on account Collected $4,000 for services to be performed in 2022 Paid $1,250 cash in salaries Purchased airline tickets for $500 in December for a trip to take place in 2022 What is the company's 2021 net income using cash basis accounting?

Reference no: EM133655037

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