Question: why is my answer not complete? Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions.




why is my answer not complete?
Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified. a. Borrowed $98,500 from a bank, signing a short-term note payable. b. Provided $104,600 in service to customers, with $99,600 on account and the rest received in cash. c. Purchased equipment for $158,000 in cash. d. Incurred and paid employee wages of $2,800. e. Received $605 on account from a customer. f. Incurred and paid $5,350 cash for travel costs during the year. g. Paid $9,600 cash on accounts payable. h. Incurred $30,400 in utility expenses during the year, of which $24,600 was paid in cash and the rest owed on account. Required: 1. For each of the above transactions, prepare accrual basis journal entries. 2. Calculate the company's preliminary net income. Answer is not complete. Calculate the company's preliminary net income. Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified. a. Borrowed $98,500 from a bank, signing a short-term note payable. b. Provided $104,600 in service to customers, with $99,600 on account and the rest received in cash. c. Purchased equipment for $158,000 in cash. d. Incurred and paid employee wages of $2,800. e. Received $605 on account from a customer. f. Incurred and paid $5,350 cash for travel costs during the year. g. Paid $9,600 cash on accounts payable. h. Incurred $30,400 in utility expenses during the year, of which $24,600 was paid in cash and the rest owed on account. Required: 1. For each of the above transactions, prepare accrual basis journal entries. 2. Calculate the company's preliminary net income. Answer is not complete. Calculate the company's preliminary net income
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