A group of friends recently organized a new business as a corporation. They provide training...
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Accounting
A group of friends recently organized a new business as a corporation. They provide training for its clients. In June, the following transactions occured: Provided $1.250 of training to clients who paid in cash. Provided $980 of training on account. Collected $735 from clients who received training during May Pald May's utility bill of $550, Received June's utility bill of $600 and set it aside for payment in July Use accrual basis accounting, calculate net income for June. Multiple Choice $1630 $1,435 $2,265
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