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Winter Company earned revenues of $150,000 in cash and $200,000 on account during 2018.Of the $200,000 on account,$63,000 was collected in cash in 2018 and the rest in 2019.The company incurred expenses of $115,000 in 2018 and made payments of $70,000 towards the expenses in 2018.What is net income in 2018 under accrual accounting?
Natural Products
Substances derived from natural sources such as plants, animals, and minerals, used for therapeutic or other health-related purposes.
Massage Therapy
A form of treatment involving manipulation of the soft tissues of the body to relieve pain, reduce stress, and enhance overall well-being.
Body Parts
Defined sections or components of the human body which serve specific functions necessary for life and health.
Soft Tissues
Various tissues in the body that connect, support, or surround other structures and organs, including muscles, tendons, ligaments, fat, and blood vessels.
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