Huang Trucking Company was organized on January 1. At the end of the first quarter (three months) of operations, the owner prepared a summary of its activities as shown in the first row of the following tabulation: Required: 1. For each of the six transactions given in this tabulation, enter what you consider the correct amounts. The first transaction is illustrated. (Amounts to be deducted and losses/outflows should be indicated with a minus sign.)

Summary of Transactions Income Cash

a. Services performed for customers, $66,000, of which $11,000 remained uncollected at the end of the quarter. Income $66,000 Cash $55,000

b. Cash borrowed from the local bank, $56,000 (one-year note). Income_____ Cash_____

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, $12,500 cash. Income_____ Cash_____

d. Wages earned by employees, $25,000, of which one-half remained unpaid at the end of the quarter. Income_____ Cash_____

e. Service supplies purchased for use in the business, $3,800 cash, of which $900 were unused (still on hand) at the end of the quarter. Income_____ Cash_____

f. Other operating expenses, $38,000, of which $6,500 remained unpaid at the end of the quarter. Income_____ Cash_____

Based only on these transactions, compute the following for the quarter:

Income (or loss) Income_____ Cash_____

Cash inflow (or outflow) Income_____ Cash_____