Multiple Choice
Consider the following transactions: I. Owners invested $8,000 cash to begin the business
II. Provided services for cash, $6,000
III. Provided services on account, $4,000
IV. Paid cash for expenses, $7,500
How much net income did the business have?
A) $6,000
B) $2,500
C) $4,000
D) $3,000
Correct Answer:
Verified
Correct Answer:
Verified
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