please help me ............
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1ST cash basis
income = amount earned during (cash ) - amount paid during the year ( only cash)
=340000 - 150000
= 190000
2nd accrual basis
income = amount earned during (cash+credit ) - amount paid during the year ( only cash+outstanding)
=400000(340000+60000) - 200000( 150000+50000)
= 200000
Explanation:
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