First, you have to remember that you are on the accrual basis for financial and tax reporting purposes. That means you record your sales income when the widget goes out the door, not when you receive the cash. If you buy inventory, you get to show it as an asset, but if you pay…
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We’ve sourced this information directly from the business, so there may be some errors or omissions. If you have any feedback or suggestions on how we can improve this feature, we'd love to hear from you!
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