Compute net income for May based on the following transactions: May 1 paid $2,700 for...
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Compute net income for May based on the following transactions: May 1 paid $2,700 for May's rent. May 14 paid $1,700 for two weeks wages. May 15 performed $5,700 in consulting service on account. May 17 billed a customer $2,000 for services performed May 16. May 20 received $5,700 in payment for May 15 transaction. May 22 performed services and immediately collected $2,500. May 31 paid $1,000 for advertising in the local paper to take place in June.
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