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Dexter Technology maintains its records using cash-basis accounting. Consider the following: . During the year, the company received cash from customers, $35,000, and paid
Dexter Technology maintains its records using cash-basis accounting. Consider the following: . During the year, the company received cash from customers, $35,000, and paid cash for salaries, $21,000. At the beginning of the year, customers owe Dexter $1,000. By the end of the year, customers owe $5,000. . At the beginning of the year, Dexter owes salaries of $4,000. At the end of the year, Dexter owes salaries of $2,500. Determine cash-basis net income and accrual-basis net income for the year. Cash-basis net income Accrual-basis net income
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