Question 16 1 pts Best Plumbing Corporation provides plumbing services. Selected transactions of Best Plumbing...
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Question 16 1 pts Best Plumbing Corporation provides plumbing services. Selected transactions of Best Plumbing Corporation are described as follows: a) Received $9,000 cash and issued common stock to Sharon. b) Paid $5,000 cash for equipment to be used for plumbing repairs. c) Borrowed $10,000 from a local bank and deposited the money in the checking account. d) Paid $900 rent for the year e) Paid $400 cash for plumbing supplies to be used next year. f) Completed a plumbing repair project for a local lawyer and received $4,000 cash. Calculate the det income. Assume plumbing supplies of $400 are left. $4,000 $3,600 $3,100 $500
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