Question 2 MouchBahi's Piano School operations for the month of May were limited to the following transactions: Provided $800 of piano lessons to students who paid in cash. Provided $200 of plano lessons on account. Collected $600 from students who took piano lessons during April. Paid April's piano rental bill of $200. 1 Received May's piano rental bill of $300 and set it aside for payment in June. Assuming that the company uses cash basis accounting, what is net income for May? $600. $1,600. $750. $1,200