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

Question

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The Answer of 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

Consider the Following Transactions: I