Business, 02.09.2019 18:10 1945

Regent plumbing corporation provides plumbing services. selected transactions of regent plumbing corporation are described as follows:
a) completed a plumbing repair project for a local lawyer and received $3,500 cash. b) paid $5,000 cash for equipment to be used for plumbing repairs. c) borrowed $11,000 from a local bank and deposited the money in the checking account. d) paid $900 rent for the year. e) paid $200 cash for plumbing supplies to be used next year. f) completed a plumbing repair project for a local lawyer and received $3,000 cash. calculate the net income. assume plumbing supplies of $200 are left at the end of the accounting period. a. $700b. $2,100c. $2,800d. $3,000

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