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Calculate the net income or net loss for the period

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Reference no: EM132420614

During October, a firm had the following transactions involving revenue and expenses.

  • Paid $1,200 for rent for October
  • Provided services for $2,750 in cash
  • Paid $250 for the October telephone service
  • Provided services for $1,900 on credit
  • Paid salaries of $1,675 to employees
  • Paid $350 for the monthly office cleaning service

Calculate the net income or net loss for the period?

Reference no: EM132420614

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