business computer solutions education service enters into a contract to employ chandra as an instructor for two years to begin june 1. one month before the term begins, business computer is underbid by a competitor and loses a major client, debt consolidation corporation. business computer now refuses to hire chandra. business computer’s repudiation of its contract to employ chandra is most likely

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.