ABC Delivery Service Had the Following Transactions in June: Earned

question 160

Multiple Choice

ABC Delivery Service had the following transactions in June: Earned $4,000 cash for services rendered; collected $2,500 from a customer "on account;" paid out $200 cash for plumbing services; received $3,500 of supplies and promised to pay one month later; paid out $1,000 in cash drawings to the owner.
-How much was Net income in June?

• A) $5,300
• B) $2,800
• C) $6,300
• D) $3,800

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