Question - Pack had the following transactions for 2006.
- Sales on account, $6,000
- Collected $2,100 for services to be performed in 2007
- Paid $800 cash in salaries
- Purchased tickets in December for $500 for a 2007 trip
What's Pack's 2006 net income using accrual accounting?
A. $7,300
B. $5,200
C. $6,800
D. $4,700
E. $5,500