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John Doe is reviewing his financial statements for May. His dry cleaning business had a $10,000 profit for May, but his business checking account shows
John Doe is reviewing his financial statements for May. His dry cleaning business had a $10,000 profit for May, but his business checking account shows a decrease of $2,500. Explain to John why the net income for the business and the ending balance in cash are not the same amounts.
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