The following transactions for the month of March have been journalized and posted to the proper accounts. Mar, 1 The business received $\$ 9,000$ 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 Turchasod office supplies for $\$ 750 \mathrm { cash }$.
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 ending balance in the Service Revenue account?

Question

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar, 1 The business received $\$ 9,000$ 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 Turchasod office supplies for $\$ 750 \mathrm { cash }$.
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 ending balance in the Service Revenue account?

Quizplus · Accepted Answer

The Service Revenue account only includes the revenue from services provided. On March 5, $10,000 was billed for design services, which is the only service revenue transaction, making the ending balance $10,000.

The Following Transactions for the Month of March Have Been $9,000\$ 9,000$9,000

The Following Transactions for the Month of March Have Been $\$ 9,000$