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Choose which one? Thanks. During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in
Choose which one? Thanks.
During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $46,000 cash. 2. Purchased $11,500 of equipment, paying $3,450 cash and signing a promissory note for $8,050. 3. Received $20,700 in cash for consulting services performed in January. 4. Purchased $3,450 of supplies on account, all of the supplies were used in January. 5. Provided consulting services on account in the amount of $36,800. 6. Paid $1,725 on account. 7. Paid $6,900 to employees for work performed during January 8. Received a bill for utilities for January of $7,800; the bill remains unpaid. What is the amount of total revenue to be reported on the income statement for the month of January? Multiple Choice $103,500 $57,500 $20,700 $66,700Step by Step Solution
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