Questions 4 and 5 refer to the following information: X Company was created on September 1 and prepares monthly financial statements. During September, X Company 1. issued stock to investors for $85,000, 2. borrowed $96,000 from a bank 3. bought merchandise that it planned to sell, paying $3,189 and promising to pay $5,106 in October 4. bought equipment, paying $5,800 and promising to pay $4,400 in December, 5. paid $3,865 that it had promised to pay to suppliers for previous purchases on account, 6. sold merchandise, receiving cash of $16,235 and promises to pay from customers of $4,455; the merchandise that was sold had cost $10,345, 7. paid off a loan for $3,510 [ignore interest] 8. received $3,050 from customers who had promised to pay, 9. paid $5,920 for wages, utilties, and other miscellaneous expenses 4. What were total assets on September 30 [assume no adjusting entries on September 30]? Submit Answer Tries 0/2 5. What was Net Income in September [assume no adjusting entries on September 30]? Submit Answer Tries 0/2