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On July 7 the company paid $6,000 for 12 months of insurance effective from August 1, 2020, through July 31, 2021. In July, you recorded
On July 7 the company paid $6,000 for 12 months of insurance effective from August 1, 2020, through July 31, 2021. In July, you recorded the $6,000 payment as an asset(prepaid) if revenue is $36000 what will your operating income be under both the cash and accrual methods in july?
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