The following information should be used for questions 96-98.The figure below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $78,000 (Transaction 1). Trans?Assets?=Liab.?Owner's Equity?CashAcctsSuppEquipAccts?G. Sawyer,Rev.Expense??Rec??Pay?Capital????????????1+78,000?????+78,000??2- 8,200??+8,200?????3?+5,200?????+5,200?4???+3,680+3,680????5- 3,500???????-3,5006+ 670- 670???????7- 2,400?????- 2,400??8- 450?+450??????Bal 64,120 +4,530 + 450 +11,880= 3,680+ 75,600 + 5,200 +-3,500What was the net income or net loss
for Sawyer Architecture Services for the month of June?
What will be an ideal response?
Net income was $1,700.
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The past tense of a verb is used to show action that is happening now
Indicate whether the statement is true or false
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