Glendale Company Had the Following Transactions in August

question 168

Multiple Choice

Glendale Company had the following transactions in August:
Earned $5,000 of revenues on account;collected $2,000 from a customer for services provided last month;incurred $500 of repair expense and paid cash;paid $300 for rent that it owed from the previous month.
What is the net income in August?

• A)$500
• B)$2,000
• C)$6,500
• D)$4,500

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Definitions:

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Organizations that work to advance, protect, or advocate for the interests and well-being of the general public or specific segments of it.

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An American activist, author, lecturer, and attorney noted for his involvement in consumer protection, environmentalism, and government reform movements.

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