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During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $12,000 cash.
During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $12,000 cash. 2. Purchased $3,000 of equipment, paying $600 cash and signing a promissory note for $2,400. 3. Received $5,400 in cash for consulting services performed in January. 4. Purchased $900 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $9,600. 6. Paid $450 on account. 7. Paid $1,800 to employees for work performed during January. 8. Received a bill for utilities for January of $2,050; the bill remains unpaid. What is the amount of total revenue to be reported on the income statement for the month of January
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