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hello can you please help with this income statement Prepare journal entries for each transaction and identify the financial statement impact of each entry. The
hello can you please help with this income statement
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated baselu on the journal entries recorded. January 1K. Wright, owner, invested $154,750 cash in the company in exchange for common stock. January 2 The company purchased supplies for $3,050 cash. January 3 the company purehased $14,050 of equipment on credit. January 4 The company received $19,100 cash for services provided to a customer. January 5 the company paid $14,050 cash to settle the payable for the equipenent purchased on January 3 . January 6 The company billed a customer $4,500 for Bervicen provided. January 7 The company paid $3,025 cash for the monthly rent. January 8 the company collected $2,475 cash as partial payment for the account receivable ereated on January 6. January 9 The company pald $12,500 cash in dividends to the orner (sole ahareholder). Answer is not complete. An income statement reports the changes in equity attributable to the operation of the business during a specific time period. Revenues increase equity, and expenses decrease equity Step by Step Solution
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