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Listed below are several transactions that took place during the first two years of operations for an accounting firm. 1. Calculate the net operating cash

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Listed below are several transactions that took place during the first two years of operations for an accounting firm. 1. Calculate the net operating cash flow for years 1 and 2 . 2. Calculate the amount of receivables from clients that the firm would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. 3. Prepare an income statement for each year according to the accrual accounting model

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