Given the accrual basis data below for a firm in its first year of operation, determine net income under the cash basis of accounting. Revenue recognized Accounts receivable Expenses incurred Accounts payable (related to expenses) Supplies purchased with cash $8778 $11248 $10830 O $15770 $21660 3420 8360 950 2052

Given the accrual basis data below for a firm in its first year of operation, determine net income under the cash basis of accounting $8778 $11248 $10830 $15770