Author Question: Using the following information, what is the amount of net income? Purchases 32,000 Selling expense ... (Read 111 times)

vicotolentino · **on:** Jul 5, 2018

Using the following information, what is the amount of net income? Purchases 32,000 Selling expense 960 Merchandise inventory, September 1 5,700 Merchandise inventory, September 30 6,370 Administrative expense 910 Sales 63,000 Rent revenue 1,200 Interest expense 1,040
a. 29,800
b. 29,960
c. 28,760
d. 31,670

Question 2

The cost of borrowing money from a creditor is called the principal of the loan.

Indicate whether the statement is true or false