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A Sole Proprietorship Reported the Following Transactions for the Month $8,000\$ 8,000

Question 123

Multiple Choice

A sole proprietorship reported the following transactions for the month of March.The transactions have been journalized and posted to the proper accounts. Mar. I The business received $8,000\$ 8,000 cash from the owner in excharge for capital.
Mar. 2 Paid the first month's rent of $600\$ 600 .
Mar. 3 Purchased equipment by paying $1,000\$ 1,000 cash and executing a note payable for $3,000\$ 3,000 .
Mar. 4 Purchased office supplies for $600\$ 600 cash.
Mar. 5 Billed a client for $11,000\$ 11,000 of desipr services completed.
Mar. 6 Received $9,000\$ 9,000 on account for the services previously recorded. What is the balance in Accounts Receivable?


A) $9,000
B) $2,000
C) $3,000
D) $11,000

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