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) $ 2,500
B) $ 4,500
C) $ 6,500
D) $10,500
Correct Answer:
Verified
Correct Answer:
Verified
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