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Pastimes : Georgia Bard's Corner

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To: Ga Bard who wrote (2723)5/26/1998 9:30:00 AM
From: JSB  Read Replies (2) of 9440
 
Profit or Loss computed on a cash basis
precludes receivables in that computation.
It does not change the fact that those
monies are owed and hence, an Asset.
Simply stated, the company does not
pay taxes on monies not yet collected.

Best to all
Jeff
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