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QUESTION 21 During April 2020, a company had the following transactions: Credit sales of $2,400 (cost of goods sold $1,000). Received $300 from a customer
QUESTION 21 During April 2020, a company had the following transactions: Credit sales of $2,400 (cost of goods sold $1,000). Received $300 from a customer for services that will be provided in May. Purchased inventory for $4,500, paid $2,700 and the rest will be paid in 30 days. Purchased and paid $560 for supplies still on hand. Paid $960 in wages. Profit for April 2020 according to accrual accounting is: A. $440 B. $180 C. $740 D. None of the above
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