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On June 1. Barney Corporation began operating a service company with an initial cash investment by shareholders of $3,824,000. The company provided $7,500,000 of services

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On June 1. Barney Corporation began operating a service company with an initial cash investment by shareholders of $3,824,000. The company provided $7,500,000 of services in June and received full payment in July, Barney also incurred expenses of $2,516,000 in June that were paid in August. During June, Barney paid its shareholders cash dividends of $600,000. What was the company's income before income taxes for the two months ended July 31 under the following methods of accounting Cash Basis Accrual Basis $5,084,000 55,084,000 b. 58,908,000 $4,484,000 c. $7,600,000 $5,084,000 $7.500,000 $4, 484,000 MO Orion Con Ocom Oprona

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