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

question 83

Multiple Choice

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 ending balance in the Service Revenue account?

• A) $19,000
• B) $9,000
• C) $10,000
• D) $8,000

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Definitions:

Critical Value

The threshold in a statistical test such that if the calculated test statistic is beyond this point, the null hypothesis is rejected.

Chi-Square Tests

Statistical tests used to determine if there is a significant difference between the expected frequencies and the observed frequencies in one or more categories.

Test Statistic

A value calculated from sample data used to evaluate the credibility of a hypothesis about a population.

Expected Frequency

The predicted number of times an event is anticipated to occur within a specified period based on probability.