The Following Transactions for the Month of March Have Been $\$ 10,000$

question 65

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts of a sole proprietorship.
Mar. The business received $\$ 10,000$ cash from the owner of the business, Morris Tharps. The business gave capital to Mortis Tharps.
Mar. 2Paid the first month's rent of $\$ 1,000$ .
Mar. 3Purchased equipment by paying $\$ 2,000$ cash and executing a note payable for $\$ 5,000$ .
Mar. 4Purchased office supplies for $\$ 710 \mathrm { cash }$
Mar. 5Billed a client for $\$ 9,000$ of design services completed.
Mar. 6Received $\$ 7,600$ on account for the services previously recorded What is the balance in Cash on March 6?

• A) $14,890
• B) $13,890
• C) $15,890
• D) $15,600

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Definitions:

Enlightened Self-Interest

Acting to further the interests of others, ultimately benefiting oneself as a result.

Competitive Motivation

Refers to the drive or urge to achieve superiority or victory over others in a situation or activity, especially where resources or rewards are limited.

Disagreeable

Disagreeable describes a personality trait characterized by regular expressions of dissent, discomfort in conforming, or enjoyment in debate, often perceived negatively in social contexts.

Integrative Negotiation

A negotiation strategy focused on collaborative problem-solving, where parties aim to achieve mutually beneficial outcomes.