. The Graves corporation stated operations this month and had the following transactions: Owners invested $8,000 Purchased 4-month insurance policy for $600 Purchased $400 supplies on account Customers paid for $500 of services in advance Completed $800 of services for another customer, sent bill Paid $200 to suppliers for supplies previously purchased on account. At the end of the month, $80 of supplies were still on hand. what was the Net income?

Answer rating: 100% (QA)

Solution Calculate net ... View the full answer