- The business is started by receiving cash from an investor in exchange for common stock $20,000 - The business purchases supplies on account $500 - The business purchases furniture on account $2,000 - The business renders services to various clients on account totaling $9,000 - The business pays salaries $2,000 - The business pays this month's rent $3,000 - The business pays for the supplies purchased on account. - The business collects from one of its clients for services rendered earlier in the month $1,500 What is total income for the month