points). 1. Yoko Oota opened Oota's Repairs on March 1 of the current year. During March, the following transactions occurred: 1. Oota invested $36,000 cash in the business in exchange for common stock. 2. Oota contributed $111,000 of equipment to the business 3.The company paid $3,100 cash to rent office space for the month of March 4.The company received $27,000 cash for repair services provided during March. 5.The company paid $7,300 for salaries for the month of March. 6.The company provided $4,100 of services to customers on account. 7.The company paid cash of $1,600 for utilities for the month of March. 8.The company received $4,200 cash in advance from a customer for repair services to be provided in April. 9.The company paid $6,100 in cash dividends. Based on this information, net income for March would be: A. $19,100. B. $24,400. C. $6,400. D. $7,300. E. $24,500. 2. Makino Company sold $460 of merchandise to a customer who used a Regional Bank credi card. Regional Bank charges a 6.0% fee for sales on its credit cards. The journal entry to recom this sales transaction would be: A. Debit Cash of $460 and credit Sales $460. B. Debit Cash of $460 and credit Accounts Receivable-Regional $460. C. Debit Accounts Receivable-Regional $432.40; debit Credit Card Expense $27.60 credit Sales $460. D. Debit Cash $432.40; debit Credit Card Expense $27.60 and credit Sales $460. E. Debit Cash $432.40 and credit Sales $432.40. 3. On October 12 of the current year, a company determined that a customer's account re was uncollectible and that the account should be written off. Assuming the allowance m used to account for bad debts, what effect will this write-off have on the company's net and total assets? A. Decrease in net income; no effect on total assets. B. No effect on net income; no effect on total assets. C. Decrease in net income; decrease in total assets. D. Increase in net income; no effect on total assets. E. No effect on net income; decrease in total assets.