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Answered Dr. Bob Zimmerman, M.D. maintains the accounting records of the Wellness Center on a cash basis. During the year, Dr. Zimmerman collected $304,455
Answered Dr. Bob Zimmerman, M.D. maintains the accounting records of the Wellness Center on a cash basis. During the year, Dr. Zimmerman collected $304,455 from his patients and paid $91,390 in expenses. Information regarding the amount of receivables (accrued revenues), unearned revenues, payables for accrued expenses, and prepaid expenses is as follows: Balance at Balance at Beginning of End of Year Year Accounts $40,362 $40,238 Receivable Unearned $2,346 $2,124 Revenues Accrued $5,097 $5,168 Payables Prepaid $5,210 $7,464 Expenses What is Dr. Zimmerman's net income on an accrual basis? rect Answer 215,346
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