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Prior to recording adjusting entries, revenues exceed expenses by $60,000. Adjusting entries for accrued salaries and wages of $10,000 and depreciation expense of $10,000 were

Prior to recording adjusting entries, revenues exceed expenses by $60,000. Adjusting entries for accrued salaries and wages of $10,000 and depreciation expense of $10,000 were made. Net income for the year would be

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