Glendale Company Had the Following Transactions in August

Multiple Choice

Glendale Company had the following transactions in August:
Earned $5,000 of revenues on account;collected $2,000 from a customer for services provided last month;incurred $500 of repair expense and paid cash;paid $300 for rent that it owed from the previous month.
What is the net income in August?

A) $500
B) $2,000
C) $6,500
D) $4,500