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The Following Transactions for the Month of March Have Been $750cash\$ 750 \mathrm { cash }

question 168

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar, 1 The business received $8,000 cash and issued common stock to stockholders.
Mar. 2 Paid the first month's rent of $600.
Mar. 3Purchasod equipment by paying $2,000 cash and executing a note payable for $6,000.
Mar. 4 Purchasod office supplies for $750cash\$ 750 \mathrm { cash } .
Mar. 5 Billed a client for $14,000 of design services completed.
Mar. 6 Received $5,000\$ 5,000 on account for the services previously recorded. What is the balance in Accounts Receivable?

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Definitions:

Marginal Cost

The incremental cost involved in creating an extra unit of a product or service.

Diseconomies of Scale

Occur when a firm's costs per unit increase as its output increases, opposite to economies of scale.

Production Costs

The total expense incurred in manufacturing a product or providing a service, including labor, materials, and overhead expenses.

Car Leasing Company

A business that rents vehicles to customers for a specified period of time, often as an alternative to purchasing.

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