On June 1, Sarah Allen started Blossom Designs Co., a company that provides craft opportunities, by...

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On June 1, Sarah Allen started Blossom Designs Co., a company that provides craft opportunities, by investing $13,190 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 Service Revenue $6,100 3,400 Advertising Expense 400 1,700 Rent Expense 1,400 10,000 Gasoline Expense 220 9,300 Utilities Expense 170 1,000 Sarah made no additional investment in June but withdrew $1,300 in cash for personal use during the month. On June 1, Sarah Allen started Blossom Designs Co., a company that provides craft opportunities, by investing $13,190 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 Service Revenue $6,100 3,400 Advertising Expense 400 1,700 Rent Expense 1,400 10,000 Gasoline Expense 220 9,300 Utilities Expense 170 1,000 Sarah made no additional investment in June but withdrew $1,300 in cash for personal use during the month.

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To determine the net income for Blossom Designs Co for the month of June w... View the full answer