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:

Nares

The nostrils or the external openings of the nasal cavity through which air enters and exits the nose.

Genitalia

The external and internal organs of the reproductive system in both males and females.

Granulation

The formation of new, fibrous tissue during the healing process of a wound.

Debridement

A medical procedure that involves the removal of dead, damaged, or infected tissue to promote healing of the remaining healthy tissue.