Determine the net income for the events

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Problem

Made cash sales of $49,000 (example). Purchased $3,000 of additional supplies on account. Borrowed $58,000 on long-term notes. Purchased $18,600 in additional equipment, paying in cash. Incurred $27,000 in selling expenses, paying two-thirds in cash and owing the rest on account. Paid $4,700 in rent for this month, and also paid $4,700 for next month. Get the instant assignment help. Determine the net income for these events.

Reference no: EM133931862

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