Cash and Accrual Basis Nalezny Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Nalezny Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2009, 2010, and 2011.Instructions(a) Using the data above, prepare abbreviated income statements for the years 2009 and 2010 on the cash basis.(b) Using the data above, prepare abbreviated income statements for the years 2009 and 2010 on the accrualbasis.
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Cash and Accrual Basis Nalezny Corp maintains its financial rec
