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In the first year of operations, Harris Construction earned $ 39,000 in revenue as received $ 33,000 cash from customers, the company incurred $ 22,500

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In the first year of operations, Harris Construction earned $ 39,000 in revenue as received $ 33,000 cash from customers, the company incurred $ 22,500 but had not paid for 5 2,250 of them by the year-end. In addition, Harris prepaid $3,750 expenses that would be incurred the next year. Profit for the first year of operations under cash basis of accounting would be .... O Oc Od 9,000 9,300 13,000 6,800

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