for each transaction, explain the basis for your reponse.

1571 Computation of Income Cash +$85.000 +$70,000 + 25000 - 8000 Summary of Transactions 4. Services performed for customers, $85,000, of which $15,000 remained uncollected at the end of the quarter. b. Cash borrowed from the local bank. $25,000 (one-year note). C. Small service truck purchased at the end of the quarter to be used in the business for two years starting the next quarter: Cost, $8,000 cash. d. Wages earned by employees, $36,000, of which one-sixth remained unpaid at the end of the quarter. e. Service supplies purchased for use in the business, $4.000 cash, of which $1.000 were unused (still on hand) at the end of the quarter. If. Other operating expenses. $31.000, of which one-half remained unpaid at the end of the quarter. g. Based only on these transactions, compute the following for the quarter: Income (or loss) Cash inflow (or outflow) - 36000 30000 -300 -4000 - 31000 -15500 $15000 $37500