Springer Corporation had the following transactions in August: Earned $3,000 of revenues on account; collected $4,000 from a customer for services provided last month; incurred $400 of repair expense and paid cash; paid $300 for rent that it owed from the previous month. What is the net income in August?

Question

Business

Levy

30 May, 17:18

Springer Corporation had the following transactions in August: Earned $3,000 of revenues on account; collected $4,000 from a customer for services provided last month; incurred $400 of repair expense and paid cash; paid $300 for rent that it owed from the previous month. What is the net income in August?

+5

Answers (1)

Know the Answer?

Turbo · Answer 1

6300

Explanation:

Net income is the amount of income remaining after payments have been made. So sum up all receipt and subtract all payments to get net income