View History Bookmarks Window Help eek 1 Qulz 6 Help Save&Exit Submit Brief Exercise 1-1 Accrual accounting [LO1-2] Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected fronm customers, $340,000, Cash paid for rent, $40,000, Cash paid to employees for services rendered during the year, $120,000; Cash paid for utilities, $50,000. n addition, you determine that customers owed the company $60,000 at the end of the year and no bad debts were anticipated. Aso the company owed the gas and electric company $2,000 at year-end, and the rent payment was for a two-year perlod. Calculate accrual net income for the year Prev 1 of 5 Next ?0 n 3 0