During 2011, a Company Provided Services for Cash of $21

Multiple Choice

During 2011, a company provided services for cash of $21, 000 and services on credit of $15,000. The company collected accounts receivable of $8,000 and incurred operating expenses of $22,700, $14,000 of which were paid during the year. The amount of net income(loss) for the year is

A) $13,300
B) ($1,700)
C) $22,000
D) $6,300