whats the preliminary net income?

An international charity collects donations, which are used to pay its operating expenses and buy equipment for others. The charity records donations of cash and other items as Donations Revenue when received. a. Recelved $4,000 in cash and checks from a door-to-door campaign. b. Incurred and paid $2,000 cash for employee wages this month. c. Paid $1,000 cash on a short-term loan from the bank (ignore interest). d. Bought $3,000 of equipment from a manufacturer, paying $1,000 cash and signing a short-term note for $2,000. e. The manufacturer generously donated to the charity an additional $2,500 of equipment. Required: 1. Prepare journal entries for the above transactions. which occurred during a recent month. 2. Determine the charity's preliminary net income. View transaction list View journal entry worksheet