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I HAVE THE ANSWER I JUST NEED HELP WITH EXPLANATION The Clementine Corporation completed the following transactions for the month: (a) Owners begin company by
I HAVE THE ANSWER I JUST NEED HELP WITH EXPLANATION
The Clementine Corporation completed the following transactions for the month: (a) Owners begin company by investing $50,000, (b) Purchased $5,000 of office equipment, (c) Purchased $20,000 of inventory on account, (d) Sold $17,000 of the inventory to customers for $36,000, (e) Paid for 25% of the inventory purchased earlier and (f) Paid salaries of $8,000 to employees. Based on these transactions, what is the company's net income for the month? 11,000 (with margin: 0)Step by Step Solution
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