The Following Transactions for the Month of March Have Been

question 96

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received a $9,000 cash contribution from the owner.
Mar) 2 Paid the first month's rent of $900.
Mar) 3 Purchased equipment by paying $4,000 cash and executing a note payable for $5,000.
Mar) 4 Purchased office supplies for $710 cash.
Mar) 5 Billed a client for $9,000 of design services completed.
Mar) 6 Received $7,600 on account for the services previously recorded.
What is the balance in Cash?

• A) $11,890
• B) $10,990
• C) $14,990
• D) $12,600

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Definitions:

Intention of Deceiving

The deliberate act of misleading or tricking someone to gain an advantage or cause harm.

Libel

A written or published defamatory statement or representation that conveys an unjustly unfavorable impression; a form of defamation.

Outside Sales

Sales activities conducted away from the seller’s usual business premises, often involving direct interaction with clients or potential customers.

Independent Self-Starter

An individual who is motivated and able to initiate tasks and projects on their own without needing direct supervision.