Q:. 1 The following data are obtained from a single - entry set of shaker, proprietor of retail stores:. The cash book shows the following information:. Balance January 1st2007 6000 Receipts: P The following additional information is available:. a- Accounts receivable of $500 written - off as uncollectible b- Allowances of $300 were received on merchandise purchases c- All notes receivable arise from sales and all notes payable arise from purchases of merchandise inventory Required:. 1-Prepare an income statement - supported by schedules computations of revenue and expense balances - for the year ended 31-1': 2- Prove the net income or loss determined in part (1) by preparing: earring statement