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A corporation has the following account balances on December 31, 2019: Accounts 4,200 receivable Advertising 450 expense Cash $500

A corporation has the following account balances on December 31, 2019: Accounts 4,200 receivable Advertising 450 expense Cash $500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A corporation has the following account balances on December 31, 2019: Accounts 4,200 receivable Advertising 450 expense Cash $500 Interest expense 400 Wages expense 2,200 Service revenue 4,500 Supplies used 240 Unused supplies 200 Net income for 2019 is: O $1,210 O $1,450 $4,900 O $1,010
Transcribed Image Text:A corporation has the following account balances on December 31, 2019: Accounts 4,200 receivable Advertising 450 expense Cash $500 Interest expense 400 Wages expense 2,200 Service revenue 4,500 Supplies used 240 Unused supplies 200 Net income for 2019 is: O $1,210 O $1,450 $4,900 O $1,010
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