The following transactions for the month of March have been journalized and posted to the proper O accounts of a sole proprietorship. O Mar. 1 The business received $10,000 cash from the owner of the business, Morris Tharps. The business gave capital to Morris Tharps. O Mar. 2 Paid the first month's rent of $1,000. O Mar. 3 Purchased equipment by paying $2,000 cash and executing a note payable for $5,000. O Mar. 4 Purchased office supplies for $710 cash. O Mar. 5 Billed a client for $9,000 of design services completed. Mar. 6 Received $7,600 on account for the services previously recorded. O What is the balance in Cash on March 6? OA) $14,890 OB) $13,890 O C) $15,890 OD) $15,600
The following transactions for the month of March have been journalized and posted to the proper O accounts of a sole proprietorship. O Mar. 1 The business received $10,000 cash from the owner of the business, Morris Tharps. The business gave capital to Morris Tharps. O Mar. 2 Paid the first month's rent of $1,000. O Mar. 3 Purchased equipment by paying $2,000 cash and executing a note payable for $5,000. O Mar. 4 Purchased office supplies for $710 cash. O Mar. 5 Billed a client for $9,000 of design services completed. Mar. 6 Received $7,600 on account for the services previously recorded. O What is the balance in Cash on March 6? OA) $14,890 OB) $13,890 O C) $15,890 OD) $15,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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