The Following Transactions Have Been Journalized and Posted to the Proper

question 181

Multiple Choice

The following transactions have been journalized and posted to the proper accounts.March is the first month of business operations for the sole proprietorship. Mar. 1 The business received $\$ 7,000$ cash from the owner in excharige for capital.
Mar. 2 Paid the first month's rent of $\$ \mathbf { 8 0 0 }$ .
Mar. 3 Purchased equipment by paying $\$ 3,000$ cash and executing a note payable for $\$ 4,000$ .
Mar. 4 Purchased office supplies for $\$ 750 \mathrm { cash }$ .
Mar. 5 Billed a client for $\$ 12,000$ of design services completed.
Mar. 6 Received $\$ 6,000$ on account for the services previously recorded What is the ending balance in the Service Revenue account?

• A) $13,000
• B) $7,000
• C) $12,000
• D) $6,000

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Definitions:

Acr/o

A prefix in medical terminology indicating extremities, peak, or topmost.

Posterior Lobe

The back part of an organ or gland, often referring specifically to the posterior lobe of the pituitary gland in the brain.

Prolactin Hormone

A hormone produced by the anterior pituitary gland that stimulates milk production following childbirth.

Adrenal Cortex

The outer layer of the adrenal glands that produces corticosteroid hormones, including cortisol and aldosterone, which regulate metabolism, immune response, and water and salt balance.