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ESTION 5 On September 1, 2014, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2014, the
ESTION 5 On September 1, 2014, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2014, the accounting records contained the following amounts: Accounts payable $1.800 Dividends declared and $1.900 paid Office equipment Office supplies Office supplies expense Rent expense Salary expense Telephone expense 25.000 Accounts receivable Accumulated depreciation Cash Consulting fees revenue 2.200 500 1.750 10,000 600 19.200 2.400 Common stock 30.000 6,900 250 500 Depreciation expense Prepare an income statement for September for the first month of Fast Track's operation. Ignore income taxes
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