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Question 15 (1 point) Ena Sharples opened a retail shop on January 1. She invested $10,000 of her own money. She rented a store for
Question 15 (1 point) Ena Sharples opened a retail shop on January 1. She invested $10,000 of her own money. She rented a store for $2,000 per month, paying first and last month's rent on January 1. She bought capital equipment for $5,000 in cash. She bought goods for resale at a cost of $10,000, on credit, payable on February 15. She incurred other expenses of $1,000 in January, all of which were paid for in cash. Her cash sales were $15,000, and she also sold $2,000 on credit, which she expects to collect by the end of February. At the end of January her inventory had a cost of $3,000. Amortization on the capital equipment is estimated at $100 for the month. The operating profit for January was: 4000 8900 4900 6900
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