1.Your examination of the records of a company that follows the cash basis of accounting tells you that the companys reported cash-basis earnings in 2017 are $34,400. If this firm had followed accrual-basis accounting practices, it would have reported the following year-end balances.

		2017		2016
Accounts receivable		$4,000		$2,000
Supplies on hand		1,690		1,790
Unpaid wages owed		2,490		2,610
Other unpaid expenses		1,710		1,230

Determine the companys net earnings on an accrual basis for 2017.

Net earnings on an accrual basis for 2017

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