Reference no: EM131865856

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

Mar. 1 The business received $ 10000 cash from the owner of the business, Morris Tharps. The business gave capital to Morris Tharps.

Mar. 2 Paid the first month's rent of $ 700.

Mar. 3 Purchased equipment by paying $3,500 cash and executing a note payable for $8000

Mar. 4 Purchased office supplies for $ 750 cash.

Mar. 5 Billed a client for $ 11000 of design services completed.

Mar. 6 Received $8000 on account for the services previously recorded.

What is the balance in Cash on March 6?

$13,050

$13,750

$14,500

$16,550