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,$5,800.

II. Provided services for cash,$25,000.

III. Provided services on account,$17,000.

IV. Collected cash from a customer on account,$7,800.

V. Paid the monthly rent of $13,000.

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

A.

$29,000

B.

$55,000

C.

$42,000

D.

$17,000

business accounting

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Answer 1

Answer #1

Amount $ 25,000 Companys net income for the month : Particulars Service Revenue :- For cash For credit Total Revenue Less: E

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Answer 2

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