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Earned revenues of $ 5 9 , 0 0 0 ( $ 5 1 , 0 0 0 cash received from customers ) Incurred expenses

Earned revenues of $59,000($51,000 cash received from customers ) Incurred expenses of $32,500($ 25,150 cash paid toward them ) Prepaid $10,250 cash for costs that will not be expensed until next year

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