The following transactions for March have been journalized and posted to the proper accounts.
Mar. 1 The business received a $10,000 cash contribution from the owner.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Purchased equipment by paying $4,000 cash and executing a note payable for $6,000.
Mar. 4 Purchased office supplies for $500 cash.
Mar. 5 Billed a client for $14,000 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. $16,000
b. $10,000
c. $14,000
d. $6,000
Answers: 3
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The following transactions for March have been journalized and posted to the proper accounts.
Mar....
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