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Reliable Corporation provides computer consulting services to the local community and keeps its accounting records using canh basis accounting. For the current year, cash was
Reliable Corporation provides computer consulting services to the local community and keeps its accounting records using canh basis accounting. For the current year, cash was received from customers, $48.000, and cash salaries to employees were pald, $26,000. At the beginning of the year, customers owe Rellable $1,200, By the end of the year, customers owe $7,600. At the beginning of the year, Reliable owes employee salaries of $6,600. At the end of the year, Reliable owes employee salaries of $3,800. Determine cash-bosis net income and accrual basis net Income for the current yout. $ 22.000 Cash-basis not income Accrual-basis net income
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