Borrowed $125,000 from a bank, signing a short-term note payable.Provided $102,600 in service to customers, with $97,400 on account and the rest received in cash.Purchased equipment for $175,000 in cash.Incurred and paid employee wages of $2,250.Received $745 on account from a customer.Incurred and paid $4,200 cash for travel costs during the year.Paid $8,000 cash on accounts payable.Incurred $22,500 in utility expenses during the year, of which $16,900 was paid in cash and the rest owed on account.Need help finding preliminary net income
Borrowed $125,000 from a bank, signing a short-term note payable.
Provided $102,600 in service to customers, with $97,400 on account and the rest received in cash.
Purchased equipment for $175,000 in cash.
Incurred and paid employee wages of $2,250.
Received $745 on account from a customer.
Incurred and paid $4,200 cash for travel costs during the year.
Paid $8,000 cash on accounts payable.
Incurred $22,500 in utility expenses during the year, of which $16,900 was paid in cash and the rest owed on account.
Need help finding preliminary net income
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