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Stom:

LO $3\mathrm{.}5$ Calculate Net Income for the month assuming Accrual Basis of Accounting

The business is started by receiving cash from an irvestor in exchange for Common Stock

$$20000$

The business purchases Supplies on account, none of the Supplies were used during the month

The business purchases Furniture on Account

The business provides services to various clients $"$on account"

The business pays salaries for this month

The business pays rent for this month

The business collects money for various clients for services performed earlier in the month, these are payments for items that were $"$on account"

Net Income

t$121$ EM

Gy$13$nes$4$