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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 $30,000 cash.
During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $30,000 cash. 2. Purchased $7,500 of equipment, paying $2,250 cash and signing a promissory note for $5,250. 3. Received $13,500 in cash for consulting services performed in January. 4. Purchased $2,250 of supplies on account; all of the supplies were used in January, 5. Provided consulting services on account in the amount of $24,000. 6. Paid $1,125 on account. 7. Paid $4,500 to employees for work performed during January 8. Received a bill for utilities for January of $5,100; 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 O $43,500 $67,500 O $37,500 O $13,500
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