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hey can i get help for these 2 questions. thanks in advance Eugene Real Estate (ERE) corporation is a leasing company specializing in leasing office
hey can i get help for these 2 questions. thanks in advance Eugene Real Estate (ERE) corporation is a leasing company specializing in leasing office space in Eugene, Oregon. The following accounts are found in their book during 2020. Rent revenues: $30,000 Salaries expense: $10,000 Utilities expense: $3,000 Expenses related to Covid-19 (e.g., costs of masks to janitors): $4,000 Income tax expense: $2,000 Depreciation expense: $2,000 Interest expense: $3,000 (Q) Determine operating income or loss for 2020. o Operating income of $11,000 Operating loss of $17,000 Operating income of $13,000 Operating loss of $13,000 On June 30, 2021, Eugene Corp. lent $100,000 to another company. A note was signed with principal of $100,000 due on June 30, 2022. The payment of the interest rate of 8% is annual. If you prepare any necessary adjusting entries for Eugene Corp on December 31, 2021 (Eugene's year-end), what is debited? Interest expense $4,000 Interest receivable $4,000 Interest expense $8,000 Interest receivable $8,000
hey can i get help for these 2 questions. thanks in advance
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