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The Following Transactions for the Month of March Have Been $7,000\$ 7,000

Question 134

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar, 1 The business received $7,000\$ 7,000 cash and issued common stock to stockholders.
Mar. 2 Paid the first month's rent of $500\$ 500 .
Mar. 3 Purchased equipment by paying $2,000 cash and expcuting a note payable for $6,000.
Mar. 4 Purchased office supplies for $700\$ 700 cash.
Mar. 5 Eilled a client for $12,000 of design 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) $3,000
C) $6,000
D) $12,000

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