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  3. your company reflects the following at 12/31/17: (

Your Company reflects the following at 12/31/17: (This data is used to answer questions 17...

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Accounting

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Your Company reflects the following at 12/31/17: (This data is used to answer questions 17 - 20) Project Contract Value Cost Paid Cost Owed Total Est. Cost Billed to Date Accounts Receivable Cash received A $250,000 $25,000 $20,000 $180,000 $250,000 $25,000 $225,000 B 175,000 66,000 9,000 75,000 175,000 0 175,000 1,000,000 450,000 50,000 1,500,000 950,000 900,000 50,000 D 2,000,000 7,000 143,000 1,500,000 300,000 110,000 190,000 Total $3,425,000 $541,000 $228,000 $3,255,000 $1,675,000 $1,035,000 $640,000 Question 20 2 pts What is the net income on the accrual basis method of accounting? $1,575,000 $493,000 $906,000 0 0 $1,035,000

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