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Business, 12.06.2020 15:57 yessi1836

Orion, Inc. has the following transactions during the month of May: May 1: Prepaid three months of rent for $12,000, covering May through July. May 5: Collected $47,000 payment in advance for services to be performed. $25,000 of service is performed in May and the rest in June. May 18: Performed $8,500 of services, receiving $2,000 now and billing client for remainder. May 25: Received $900 from client billed on May 18. May 30: Received utility bill for May of $7,000; will pay in June. What amount of Net Income would Orion record for May?

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Orion, Inc. has the following transactions during the month of May: May 1: Prepaid three months of r...

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