Reference no: EM133016817

Question - A sole proprietorship reported the following transactions for the month of March. The transactions have been journalized and posted to the proper accounts.

Mar. 1 The business received? $7,000 cash from the owner in exchange for capital.

Mar. 2 Paid the first? month's rent of? $600.

Mar. 3 Purchased equipment by paying? $4,000 cash and executing a note payable for? $3,000.

Mar. 4 Purchased office supplies for? $700 cash.

Mar. 5 Billed a client for? $10,000 of design services completed.

Mar. 6 Received? $8,000 on account for the services previously recorded.

Required - What is the balance in Accounts? Receivable?

A. ?$10,000

B. ?$2,000

C. ?$8,000

D. ?$3,000