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tu receive $125,000 in year 1 for a job to be started and completed in year 2 . However, you purchase materials and supplies to

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tu receive $125,000 in year 1 for a job to be started and completed in year 2 . However, you purchase materials and supplies to prepare for the upcoming job. Materials and upplies purchased in year 1 cost $60,000 in year 2 you determine that you would need to purchase an additional $30,000 in supplies Determine the profit for year 1 and 2 under both accrual and cash accounting (10 Marks)

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