The following transactions for the month of March have been journalized and posted to the proper accounts. Mar, 1 The business received cash and issued common stock to stockholders.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Turchasad equipment by paying $3,000 cash and executing a note payable for $5,000.
Mar. 4 Iurchasod Office Supplies for .
Mar. 5 Eilled 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:
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