The Following Transactions for the Month of March Have Been

question 27

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 Martinez invested $9,000 cash in his new design services business.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Purchased equipment by paying $3,000 cash and executing a note payable for $5,000.
Mar. 4 Purchased Office Supplies for $750 cash.
Mar. 5 Billed a client for $10,000 of design services completed.
Mar. 6 Received $8,000 on account for the services previously recorded.
What is the balance in Accounts Receivable?

• A)$8,000
• B)$2,000
• C)$5,000
• D)$10,000

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Definitions:

Consciously

In a state of awareness where thoughts, feelings, and actions are recognized and understood by the individual.

Unconsciously

Pertaining to the processes of the mind that occur without conscious awareness.

Psychological Tests

Standardized measures used to assess individual mental capacities and behavioral styles.

Bad Choices

Decisions made that lead to negative consequences or outcomes, often considered unwise in hindsight.