“i need to do an income statement for my motors inc for the period ending in march 31,20xxborrowed $45,000 from the bank and signed a note payable in the name of the businesspaid cash of $40,000 to acquire landperformed service for a customer and received cash of $5,000purchased supplies on account, $300performed customer service and earned revenue on account, $2,600paid $1,200 on account.paid the following cash expenses: salaries, $3,000; rent,$1,500; and interest, $400received $3,100 utility bill that will be paid next weekpaid cash dividends of $1,800”
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