The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 Martinez invested $9,000 cash in his new design services business.
Mar. 2 Paid the first month's rent of $800.
Mar. 3 Purchased equipment by paying $3,000 cash and executing a note payable for $5,000.
Mar. 4 Purchased office supplies for $750 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.
What is the ending balance in the Service Revenue account?
A)$19,000
B)$9,000
C)$10,000
D)$8,000

Question

Quizplus · Accepted Answer

The only transaction affecting the Service Revenue account is on Mar. 5, when $10,000 was billed to a client for design services.

The Following Transactions for the Month of March Have Been