Mostert Music Company had the following transaction inMarch:a. Sold instruments to customers for $10,000; received$ 6,000 in cash and the rest on account. The cost of theinstruments was $7,000.
b. Purchased $4,000 of new instruments inventory; paid$1,000 in cash and owed the rest on account.
c. Paid $600 in wages for the month.
d. Received a $200 bill for utilities that will be paidin April.
e. Received $1,000 from customers as deposits on ordersof new instruments to be sold to the customers in April. Complete the following statement:Cash Income StatementRevenues:Revenues:CashSale sSalesto :Expenses:InventorypurchasesCostof (dbl underline)Netincome(dbl underline)
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Mostert Music Company had the following transaction inMarch:a. Sold instruments to customers for $10...
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