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The Following Transactions Have Been Journalised and Posted to the Proper

Question 44

Multiple Choice

The following transactions have been journalised and posted to the proper accounts.
1.Mark Call invested $7 000 cash in his new design services business.
2.The business paid the first month's rent with $700 cash.
3.The business purchased equipment by paying a $2 000 deposit and borrowing $4 500.
4.The business purchased supplies for $850 cash.
5.The business billed its clients a total of $4 000 for design services rendered.
6.The business collected $3 000 on credit from one of its clients.
What is the balance in Service revenue?


A) $3 000
B) $3 150
C) $1 000
D) $4 000

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