Given the data below for a firm on its first year of operation, determine the net income under the accrual basis: of acc

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Given the data below for a firm on its first year of operation,
determine the net income under the accrual basis: of accounting:
Revenue recognized P19,000; Accounts Receivable P3,000; Expense
incurred P7,250; Accounts payable (related to expenses) P750; and
Supplies purchased with cash P1,800. show your solution