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7.20. When using the accrual-basis of accounting for the month of November, sales on account were $1,000.00 and the purchase of one year of insurance

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7.20. When using the accrual-basis of accounting for the month of November, sales on account were $1,000.00 and the purchase of one year of insurance for $600.00 would result in the Profit & Loss report showing a A. $400.00 Profit B. $950.00 Profit C. $600.00 Loss D. $1,000.00 Profit Dilli

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