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Can someone correct my mistakes plz Made cash sates of $54, 600 (example) Purchased $4, 650 of additional supplies on account. Borrowed $62, 600 on
Can someone correct my mistakes plz
Made cash sates of $54, 600 (example) Purchased $4, 650 of additional supplies on account. Borrowed $62, 600 on long-term notes. Purchased $25, 200 in additional equipment, paying in cash. Incurred $29, 700 in selling expenses, paying two-thirds in cash and owing the rest on account. Paid $8, 200 in rent for this month, and $8, 200 for next month. Required: For each of the transactions complete the table below, indicating the account amount and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. Also, determine the company's preliminary net income. (Enter any decreases to account balances with a minus sign.) Determine the company's preliminary net income Step by Step Solution
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