JLM Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for
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JLM Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows:
Fees earned Wages expense | $2,550,000 1,612,500 |
Miscellaneous expense | 41,250 |
Rent expense | 240,000 |
Supplies expense | 22,500 |
Prepare an income statement for the month ended August 31.
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