question attachedthanks for the help greatly appreciated---- Linda Keller opened a consulting firm, Keller Consulting P.C. During its first month of operations, the following transactions were completed:1. Linda invested $30,000 in the business, which in turn issued common stock to her.II. The business purchased equipment on account for $65,000.III. The business provided consulting services on account, $11,000.IV. The business paid cash salary to the receptionist, $2,000.V. The business received cash from a customer as payment on account $6,000.VI. The business borrowed $8,000 from the bank, issuing a note payable.At the end of the month, total liabilities are:OA. $73,000.B. $76,000.OC. $65,000.O D. $8,000.

Total liabilities = Accounts Payable + Note Payable In the given question : Accounts Payable = $…

Answered: Linda Keller opened a consulting firm,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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