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What is total income for the month

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Reference no: EM132587848

A business has the following transactions:

  1. The business is started by receiving cash from an investor in exchange for common stock $24,000.
  2. The business purchases supplies on account $700.
  3. The business purchases furniture on account $3,500.
  4. The business renders services to various clients on account totaling $8,000.
  5. The business pays salaries $2,000.
  6. The business pays this month's rent $3,500.
  7. The business pays for the supplies purchased on account.
  8. The business collects from one of its clients for services rendered earlier in the month $1,800.

Question 1: What is total income for the month?

Reference no: EM132587848

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