Lori Nichols started an engineering? firm, Engineering Enterprises P.C. During its first month of? operations,...
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Accounting
Lori Nichols started an engineering? firm, Engineering Enterprises P.C. During its first month of? operations, the following transactions were? completed:
I. Lori invested $34,000 in the? business, which in turn issued common stock to her.II. The business purchased equipment on account for $9,000.
III. The business provided engineering services on? account $11,000.
IV. The business paid salaries to the? receptionist $6,000.
V. The business received cash from a customer as payment on account $8,000.
VI. The business borrowed $12,000 from the? bank, issuing a note payable.
At the end of the? month, cash? equals:
A.48,000.
B.$34,000.
C. $40,000.
D.$80,000.
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