Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified.

a$.$ Borrowed $$105,500$ from a bank, signing a short$-$term note payable.

b$.$ Provided $$107,400$ in service to customers, with $$101,600$ on account and the rest received in cash.

c$.$ Purchased equipment for $$200,000$ in cash.

d$.$ Incurred and paid employee wages of $$1,200.$

e$.$ Received $$450$ on account from a customer.

f$.$ Incurred and paid $$5,250$ cash for travel costs during the year.

g$.$ Paid $$9,500$ cash on accounts payable.

h$.$ Incurred $$22,900$ in utility expenses during the year, of which $$16,100$ was paid in cash and the rest owed on account.

Required:

For each of the above transactions, prepare accrual basis journal entries.

Calculate the company's preliminary net income.

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Calculate the company's preliminary net income.