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Unformatted text preview: E. Purchase equipment for cash F. Create a note payable for an expense G. Investment by the owner. Exercise 1-13 REAL ANSWERS Income Statement For Month Ended October 31 Revenues Consulting Fees Earned $14,000 Expenses Rent Expense $3,550 Salaries Expense $7,000 Telephone Expense $760 Misc. Expense $580 Total Expenses $11,890 Net Income $2,110...
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- Spring '08
- Financial Accounting