What is the net income in august

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Reference no: EM132907506

Springer Company, a sole proprietorship, had the following transactions in August:

Earned $5,000 of revenues on account;

collected $5,000 from a customer for services provided last month;

incurred $500 of repair expense and paid cash; paid $600 for rent that it owed from the previous month.

Problem 1: What is the net income in August?

A) $500

B) $5,000

C) $9,500

D) $4,500

Reference no: EM132907506

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