Portneuf Plumbing Inc. has their receptionist keep the books for the company As he has no accounting background, he simply enters cash activity each month.

For bonding insurance renewal, the company is required to submit accrual financials annual Prepare an accrual income statement.

$\backslash$table$[[$CASH ACTIVITY FOR $2024($from receptionist$),],[$Deposits from Customers,$925,000],[$Paid to Vendors for Inventory,$(402,000)$