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Rushmore Company provided services for $33,000 cash during Year 1. Rushmore incurred $24,000 of operating expenses on account during Year 1, and by the end

Rushmore Company provided services for $33,000 cash during Year 1. Rushmore incurred $24,000 of operating expenses on account during Year 1, and by the end of the year, $9,000 of that amount had been paid with cash. If these are the only accounting events that affected Rushmore during Year 1, which of the following statements is true

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