the answer to this problem is here with all the step by steps of the answer
The answer is $1890.
Now the sum of expenses
800+180+3700+150 = 4830
And the sum of income
670+2270= 2940
Difference = -1890
Net loss = $ 1890.
The main distinction between accrual and cash basis accounting lies within the timing of when revenue and fees are diagnosed. The coins technique offers a direct reputation of revenue and prices, while the accrual technique makes a specialty of anticipated revenue and prices.
Are you eligible to use the coins technique of accounting? Starting with the 2018 tax year, the coins method is to be had to most corporations with average annual gross receipts for the previous 3 years of $25 million or less, including C agencies and companies that preserve inventories.
Learn more about the cash method here: https://brainly.com/question/4555544
#SPJ2
