The following transactions have been journalized and posted to the proper accoun

Question

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

Explanation / Answer

- $700 - $2000 - $850 + $4000 + $3000 = $3300 Option a

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