Question 6 2.5 pts During 20X1 ABC Company earned revenues of $10 million. Expenses incurred were $7 million. ABC collected $6 million of the total revenue earned in cash and paid $5 million of the total expenses incurred in cash. Under cash-basis accounting, how much expenses should ABC Company report for 20X1? O $7 million $2 million $3 million $5 million