All of the following are characteristics of current liabilities except Group of answer choices they may be replaced with a new short-term liability rather than being paid in cash. they may involve estimated amounts. they are due within one year or within the operating cycle, whichever is longer. All three of these are characteristic of current liabilities

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.