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A. Space Solutions, Inc. reported the following activity for quarter ending March 31, 2019. For each transactions, enter the amount that would be included in
A. Space Solutions, Inc. reported the following activity for quarter ending March 31, 2019. For each transactions, enter the amount that would be included in the computation of cash flow and net income. Enter a zero where there is no effect. In the third column, classify income statement items as a revenues or an expense. Transaction Summary Cash Flow Net Income Revenue or Expense Billed customer $185,000 for design services. $35,000 remained uncollected at the end of the quarter. Borrowed $25,000 from a bank on February 28. The first monthly payment was due on March 31, 2020. Purchased a delivery van on March 31 for $25,000. The vehicle has a useful life of four years. Space paid $75,000 in employee wages including $13,500 for 2018. Purchased and used $3,500 of office supplies. Made payments to suppliers of $2,500. Paid $3,600 on January 1, 2019 for 2019 insurance coverage. Paid $8,000 for other expenses. $3,000 remained unpaid at quarter end. Made March 31 loan payment of $1,941 including $125 of interest. | Made a tax payments of $30,000
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