I need this question answer general Accounting Revenue on account amounted to $5,000. Cash collections ofaccounts receivable amounted to $2,300. Expenses for the periodwere $2,100. The company paid dividends of $450. Net incomefor the period was:A. $1,200.B. $2,900.C. $2,850.D. $2,450.

Step 1: Define Net IncomeNet income indicates that a company is performing well and generating…

Answered: Revenue on account amounted to $5,000.…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23A: Statement Of Cash Flows: The Direct Method

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Revenue on account amounted to $5,000. Cash collections of accounts receivable amounted to $2,300. Expenses for the period were $2,100. The company paid dividends of $450. Net income for the period was: A. $1,200. B. $2,900. C. $2,850. D. $2,450.