Business, 07.10.2020 23:01 iritike3347

Issued $25,000 of QCI stock for cash. Incurred $600 of utilities costs this month and will pay them next month. Incurred and paid wages for the current month, totaling $2,000. Performed cleaning services on account worth $2,800. Some of Quick Cleaners’s equipment was repaired at a total cost of $150. The company paid the full amount at the time the repair work was done. Required: Prepare journal entries for the above transactions, which occurred during a recent month. Determine QCI’s preliminary net income.

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Issued $25,000 of QCI stock for cash. Incurred $600 of utilities costs this month and will pay them...

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