Explain your answer

IMI AL 1 1 Normal 1 No Spac... Heading 1 Heading 2 Subtitle Subtle Em Emphasis intense E... Title Stro ph Styles Apple maintains its accounting records on a cash basis. During 2020, Apple collected $23000 from its customers and paid $26000 in expenses. Accounts Receivable were $2000 on January 1 and $8000 on December 31. Prepaid Rent was $4000 on January 1 and $1500 on December 31. What is the amount of accrual basis expenses for 2020