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Q-6 Telemarketing Associates' balance sheet data at May 31, 20X2, and June 30 , 20X2, follow: Required Following are three assumptions about investments and withdrawals
Q-6 Telemarketing Associates' balance sheet data at May 31, 20X2, and June 30 , 20X2, follow: Required Following are three assumptions about investments and withdrawals by the owner of the business during June. For each assumption, compute the amount of net income or net loss of the business during June 202. 1. The owner invested $5,000 in the business and made no withdrawals. 2. The owner made no additional investments in the business but withdrew
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