The Following Transactions for the Month of March Have Been $\$ 9,000$

question 38

Essay

The following transactions for the month of March have been journalized and posted to the proper accounts.
Mar. I Martinez invested $\$ 9,000$ cash in his new design services business.
Mar. 2 Paid the first month 5 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 Eilled a client for $\$ 10,000$ of design services completed.
Mar. 6 Received $8,000 on account for the services previously recorded.
-According to the above transactions.What is the balance in Accounts Receivable?
A) $8,000
B) $2,000
C) $5,000
D) $10,000

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

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change.

Marginal Product

This measures the additional output that is produced by adding one more unit of a specific input, keeping all other inputs constant.

Total Output

The entire quantity of goods or services produced by an individual, firm, industry, or economy within a specified period.

Implicit Costs

Costs that represent the value of resources used in production for which no direct payment is made.