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Business, 26.02.2020 06:01 emmanuel96

(1) Acquired $20,000 cash from the issue of common stock.
(2) Purchased $800 of supplies on account.
(3) Purchased land that cost $14,000 cash.
(4) Paid $800 cash to settle accounts payable created in Event 2.
(5) Recognized revenue on account of $10,500.
(6) Paid $3,800 cash for other operating expenses.
(7) Collected $7,000 cash from accounts receivable.

Prepare an income statement.

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(1) Acquired $20,000 cash from the issue of common stock.
(2) Purchased $800 of supplies on a...
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