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During 2022, a CPA firm billed customers for $20,000 for work completed) Payment of $16.000 was collected during the year, with the balance being paid
During 2022, a CPA firm billed customers for $20,000 for work completed) Payment of $16.000 was collected during the year, with the balance being paid by customers the following year, 2023. During 2022, the firm had $8000 of expenses. All but $2000 of these were paid immediately, with the balance being paid the following year.
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