The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received $8,000 cash and issued common stock to stockholders. Mar. 2 Paid the first month's rent of $1,000. Mar. 3 Purchased equipment by paying $2,500 cash and executing a note payable for $9,000. Mar, 4 Purchased office supplies for $720 cash. Mar. 5 Billed a client for $12,000 of design services completed. Mar. 6 Received $7,800 on account for the services previously recorded. What is the balance in Cash on March 6? O A. $12,580 O B. S13,300 O C. S11,580 O D. $14,080

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received $8,000 cash and issued common stock to stockholders. Mar. 2 Paid the first month's rent of $1,000. Mar. 3 Purchased equipment by paying $2,500 cash and executing a note payable for $9,000. Mar, 4 Purchased office supplies for $720 cash. Mar. 5 Billed a client for $12,000 of design services completed. Mar. 6 Received $7,800 on account for the services previously recorded. What is the balance in Cash on March 6? O A. $12,580 O B. S13,300 O C. S11,580 O D. $14,080

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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