Smith Technical Services Is Working on a Six-Month Job for a Client

Multiple Choice

Smith Technical Services is working on a six-month job for a client, starting February 1. They will collect $30,000 from their customer when the job is finished. On March 1, their Accounts Receivable account had a debit balance of $5,000. At the end of March, after monthly adjusting entries have been made, what will be the balance in Accounts Receivable?

A) Debit balance of $5,000
B) Credit balance of $25,000
C) Debit balance of $10,000
D) Debit balance of $30,000