A company completed the following transactions during the month of October: I. Purchased office supplies on...

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A company completed the following transactions during the month of October: I. Purchased office supplies on...

A company completed the following transactions during the month of October:

I. Purchased office supplies on account, $ 4 comma 400$4,400.

II. Provided services for cash, $ 20 comma 000$20,000.

III. Provided services on account, $ 15 comma 000$15,000.

IV. Collected cash from a customer on account, $ 8 comma 200$8,200.

V. Paid the monthly rent of $ 14 comma 000$14,000.

What was the company's net income for the month?

business accounting

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Answer 1

Answer #1

Services for cash	20000
Add: Services on account	15000
Total Services provided		35000
Less: Monthly rent		14000
Net income for the month		21000

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Answer 2

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