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Panda Corporation has just ended the calendar year making a sale in the amount of $24,000, but has currently charge (collected) only $15,000. The firm
Panda Corporation has just ended the calendar year making a sale in the amount of $24,000, but has currently charge (collected) only $15,000. The firm paid 75% of the merchandise during the year, which cost $12,000. Required: Calculate the Net profits based on Accrual basis and Cash flow basis from this sale
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