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Prepare an income statement for the month ended July 31, 2016 for Bargain Books. Bargains...

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Accounting

Prepare an income statement for the month ended July 31, 2016 for Bargain Books. Bargains account balances for the month ending July 31, 2016 are:

Cash $ 2,800 Rent expense $33,200
Accounts receivable 37,000 Utilities expense 1,060
Office supplies 6,200 Salaries expense 32,000
Office equipment 58,300 Miscellaneous expenses 290
Land 140,000 Retained earnings, July 1 24,300
Sales 110,000 Common stock 152,250
Cash dividends 5,300 Accounts payable 29,600

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