On June 1, 2019, Kris Storey established an interior decorating business, Eco-Centric Designs. During the month, Kris completed the following transactions related to the business:

June 1 Kris transferred cash from a personal bank account to an account to be used for the business, $35,000.

1 Paid rent for period of June 1 to end of month, $4,750.

6 Purchased office equipment on account, $14,100.

8 Purchased a van for $28,500 paying $4,500 cash and giving a note payable for the remainder.

10 Purchased supplies for cash, $2,380.

12 Received cash for job completed, $12,200.

15 Paid annual premiums on property and casualty insurance, $3,600.

23 Recorded jobs completed on account and sent invoices to customers, $11,900.

24 Received an invoice for van expenses, to be paid in June, $1,500.

Enter the following transactions on Page 2 of the two-column journal:

June 29 Paid utilities expense, $3,100.

29 Paid miscellaneous expenses, $950.

30 Received cash from customers on account, $7,330.

30 Paid wages of employees, $5,070.

30 Paid creditor a portion of the amount owed for equipment purchased on June 6, $6,825.

30 Withdrew cash for personal use, $1,600. Can you think of any reason why the amount determined in (4) might not be the net income for June?