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The Following Transactions for the Month of March Have Been

Question 57

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received a $9,000 cash contribution from the owner.
Mar) 2 Paid the first month's rent of $600.
Mar) 3 Purchased equipment by paying $4,000 cash and executing a note payable for $5,000.
Mar) 4 Purchased office supplies for $600 cash.
Mar) 5 Billed a client for $10,000 of design services completed.
Mar) 6 Received $8,000 on account for the services previously recorded.
What is the balance in Accounts Receivable?


A) $8,000
B) $2,000
C) $5,000
D) $10,000

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