The following transactions for the month of March have been journalized and posted to the proper accounts
Mar. 1 The business received $7,000 cash and issued common stock to stockholders.
Mar. 2 Paid the first month's rent of $500.
Mar
3 Purchased equipment by paying $2,000 cash and executing a note payable for $6,000.
Mar. 4 Purchased office supplies for $700 cash.
Mar. 5 Billed a client for $12,000 of design services completed.
Mar. 6 Received $9,000 on account for the services previously recorded.
What is the balance in Accounts Receivable?
A) $9,000
B) $3,000
C) $6,000
D) $12,000
B .Accounts Receivable is increased (debited) by the March 5 amount of $12,000 and decreased (credited) by the March 6 amount of $9,000.
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Fill in the blank(s) with the appropriate word(s).
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