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Doctor Quack maintains the accounting records of the clinic on a cash basis. During 20X8, the doctor collected $155,992 from her patients and paid $60,414
Doctor Quack maintains the accounting records of the clinic on a cash basis. During 20X8, the doctor collected $155,992 from her patients and paid $60,414 in expenses. At January 1, accrued expenses was $3,096 and prepaid expenses was $2,924. By December 31, accrued expenses was $2,024 and prepaid expenses was $2,035. Calculate the accrual based net income. a. 95,761 b. 97,539 c. 95,395 d. 93,617 Clear my choice
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