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On april 1, julie began operating a service proprietorship with an initial cash investment of $1,000. the proprietorship provided $3,200 of services in april and received a payment of $2,500 in may. the proprietorship incurred expenses of $1,500 in april that were paid in june. during may, julie drew $500 from her capital account. what was the proprietorship’s income for the 2 months ended may 31 under the following methods of accounting?
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On april 1, julie began operating a service proprietorship with an initial cash investment of $1,000...
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