The Following Transactions Have Been Journalized and Posted to the Proper

Essay

The following transactions have been journalized and posted to the proper accounts.
1)Mark Call invested $7,000 cash in his new design services business.
2)The business paid the first month's rent with $700 cash.
3)The business purchased equipment by paying $2,000 down and executing a note payable for $4,500.
4)The business purchased supplies for $850 cash.
5)The business billed its clients a total of $4,000 for design services rendered.
6)The business collected $3,000 on account from one of its clients.
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How much was net income?
A) $700
B) $300
C) $3,300
D) $2,450