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Monaco & Associates Use the following five transactions for Monaco & Associates to answer the following question. Oct. 1 Bills are sent to clients for

  1. Monaco & Associates Use the following five transactions for Monaco & Associates to answer the following question.
    Oct. 1 Bills are sent to clients for services provided in September in the amount of $800.
    9 Dravo Co. delivers office furniture ($1,060) and office supplies ($160) to Monaco leaving an invoice for $1,220.
    15 Payment is made to Dravo Co. for the furniture and office supplies delivered on October 9.
    23 A bill for $430 for electricity for the month of September is received and will be paid on its due date in November.
    31 Salaries of $850 are paid to employees.
    See the transactions for Monaco & Associates. Based only on these transactions, what is the total amount of expenses that should appear on the income statement for the month of October?

    a.$430

    b.$850

    c.$1,440

    d.$1,280

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