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The Valli Corporation completed the following transactions for the month: 1 Owners begin company by investing $30,000. Purchased $9,900 of equipment which has a useful
The Valli Corporation completed the following transactions for the month: 1 Owners begin company by investing $30,000. Purchased $9,900 of equipment which has a useful life of 5 years and is expected to be worthless at the end of that time. 1 Purchased a three-month insurance policy for $795. 9 Performed $6,000 of services to customers; sent bill. 15 Paid $300 for office supplies. 20 Received $1,200 from a customer for services sold in advance. 30 Paid employee payroll of $3,200 for the month. 30 Supplies on hand reported at $200. Based on the information above, what is the company's net income at the end of the month
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