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Davenport Company operates a dry cleaning service, uses accrual account and prepares financial statements on a monthly basis. The company had the following transactions during
Davenport Company operates a dry cleaning service, uses accrual account and prepares financial statements on a monthly basis. The company had the following transactions during the month of November 2021. $9,000 of services provided on account $6,000 cash collected for services that will be provided in December 2021. $3,750 cash payment for November employee salaries $500 cash payment for an insurance policy that begins on December 1, 2021. What is Davenport Company's net income in November 2021?
$9,750
$5,250
$9,250
$5,750
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