Multiple Choice
The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 Martinez invested $9,000 cash in his new design services business.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Purchased equipment by paying $3,000 cash and executing a note payable for $5,000.
Mar. 4 Purchased Office Supplies for $750 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
Correct Answer:

Verified
Correct Answer:
Verified
Q11: Journalizing a transaction involves _.<br>A) calculating the
Q22: Sharon Company reported the following transactions for
Q23: A trial balance is the list of
Q24: In a trial balance, total debits must
Q25: Which of the following journal entries would
Q30: Which of the following accounts increases with
Q31: A shortened form of an account in
Q32: A liability created when a business collects
Q41: Which of the following is an asset
Q42: The trial balance is also known as