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  3. i. purchased inventory with a cost of $26,900 on a

i. Purchased inventory with a cost of $26,900 on account ii. Sales...

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Accounting

i. Purchased inventory with a cost of $26,900 on account
ii. Sales on account to customers totalled $54,900.
iii. Payments made to employees for wages totalled $13,200
iv. Cash Collections from customers settling their accounts totalled $42700
v. Invoice received from the utility company for $4000 is due in 30 days
vi. Payments totalling $2380 were made to suppliers to settle part of the balance owing to them.
vii. Received a deposit of $2900 from a customer for goods to be delivered next month.
A. Calculate the revenues, expenses, net income that would be reported on the cash basis.
(Enter the loss amounts using either a negative preceding the number e.g.-45 or parentheses e.g (45))

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