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A business has the following transactions: The business is started by receiving cash from an investor in exchange for common stock $24,000. The business purchases

A business has the following transactions:

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

What is total income for the month?

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