Multiple Choice
ABC Delivery Service had the following transactions in June: Earned $4 000 cash for services rendered; collected $2 500 from a customer 'on account;' paid out $200 cash for plumbing services; received $3 500 of supplies and promised to pay one month later; paid out $1 000 in cash drawings to the owner. What is the combined effect on Owner's capital of the June transactions?
A) Up $2 800
B) Down $6 300
C) Down $300
D) Up $5 300
Correct Answer:
Verified
Correct Answer:
Verified
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