Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $50,000,

Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $50,000, and paid cash for salaries, $21,900. At the beginning of the year, customers owe Rebel $1,100. By the end of the year, customers owe $8,000. At the beginning of the year, Rebel owes salaries of $7,000. At the end of the year, Rebel owes salaries of $4,000. Determine cash-basis net income and accrual-basis net income for the year.

Answers

this business is a price setter.

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It will be beneficial, because it can reduce interest rates and loan terms. this means that you will be paying close to the amount you have borrowed and will have to pay little to no interest paymentshope this
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