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Using the following information for a periodic inventory system, what is the amount of net income? Purchases $30,075 Selling expense $747 Inventory, September 1 5,806
Using the following information for a periodic inventory system, what is the amount of net income?
| Purchases | $30,075 | Selling expense | $747 | |
| Inventory, September 1 | 5,806 | Inventory, September 30 | 10,929 | |
| Administrative expense | 560 | Sales | 46,235 | |
| Rent revenue | 1,130 | Interest expense | 896 |
a.$29,094
b.$896
c.$20,210
d.$24,952
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Intermediate Accounting
Authors: Fred Skousen, James Stice, Earl Kay Stice
14th Edition
0324013078, 9780324013078
