The following transactions for Habari Company occurred during January$2017$:

Jan$1$ Purchased a two$-$year insurance policy for cash, $$8,400.$

Jan$4$ Paid utilities bill that was received in December$2015,$ $$450.$

Jan$9$ Performed a service on account, $$12,000.$

Jan$16$ Paid monthly salary to employees, $$2,700.$

Jan$21$ Received $$18,000$ from a customer on account.

Jan$25$ Received $$600$ from January $9$ transaction.

Jan$31$ Prepared the adjusting entry for insurance from January $1$ transaction.

Jan$31$ Accrued wages of $$2,750.$

Do not enter commas, spaces, decimals, or dollar signs in your answer. For example, if your answer is $$2,333,$ then enter it as $2333$

If your answer is negative, i$.$e$.$ a net loss of $$2,333,$ then enter your answer in brackets withoutcommas$,$spaces$,$ decimals, or dollar signs as: $(2333)$

What is the amount of income under the cash basis$?$

Answer rating: 100% (QA)

To calculate the income under the cash basis well consider the cash received and cash ... View the full answer