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What was the company accrual basis net income for the month

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Question: During the month of March 2017, Weimar World, a tax-preparation service, had the following transactions.

Billed $496,000 in revenues on credit

Received $164,000 from customers' accounts receivable

Incurred expenses of $194,000 but only paid $87,700 cash for these expenses

Prepaid $32,220 for computer services to be used next month

What was the company's accrual basis net income for the month?

Reference no: EM132718035

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