9 Tri Fecta a partnership had revenues of 369 000 in its

Last updated: 10/2/2023

9 Tri Fecta a partnership had revenues of 369 000 in its first year of operations The partnership has not collected on 46 900 of its sales and still owes 39 900 on 175 000 of merchandise it purchased There was no inventory on hand at the end of the year The partnership paid 33 700 in salaries The partners invested 42 000 in the business and 21 000 was borrowed on a five year note The partnership paid 2 100 in interest that was the amount owed for the year and paid 9 700 for a two year insurance policy on the first day of business Compute net income for the first year for Tri Fecta 01 27 06 Multiple Choice 153 350