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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
The following transactions for the month of March have been journalized and posted to the proper accounts.

Mar. 1   The business received $7,000 cash and issued common stock to stockholders.
Mar. 2   Paid the first month's rent of $500.
Mar. 3   Purchased equipment by paying $2,000 cash and executing a note payable for $6,000.
Mar. 4   Purchased office supplies for $700 cash.
Mar. 5   Billed a client for $12,000 of design services completed.
Mar. 6   Received $9,000 on account for the services previously recorded.

What is the balance in Accounts Receivable?
A) $3,000
B) $12,000
C) $6,000
D) $9,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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.unplugged..unplugged.
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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