Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN: 9781305654174
Author: Gary A. Porter, Curtis L. Norton
Publisher: Cengage Learning
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Made cash sales of $51,400 (example).
Purchased $3,250 of additional supplies on account.
Borrowed $59,000 on long-term notes.
Purchased $23,600 in additional equipment, paying in cash.
Incurred $39,150 in selling expenses, paying two-thirds in cash and owing the rest on account.
Paid $4,750 in rent for this month, and also paid $4,750 for next month.

What is the preliminary net income. keeps saying incorrect

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