The following transactions for the month of March have been journalized and posted to the proper accounts of a sole proprietorship.
Mar. The business received $\$ 10,000$ cash from the owner of the business, Morris Tharps. The business gave capital to Mortis Tharps.
Mar. 2Paid the first month's rent of $\$ 1,000$.
Mar. 3Purchased equipment by paying $\$ 2,000$ cash and executing a note payable for $\$ 5,000$.
Mar. 4Purchased office supplies for $\$ 710 \mathrm { cash }$
Mar. 5Billed a client for $\$ 9,000$ of design services completed.
Mar. 6Received $\$ 7,600$ on account for the services previously recorded What is the balance in Cash on March 6?
A) $14,890
B) $13,890
C) $15,890
D) $15,600

Question

Quizplus · Accepted Answer

The cash balance is calculated as follows: Starting with $10,000 from the owner, subtract $1,000 for rent, $2,000 for equipment, and $710 for supplies, then add $7,600 received from the client, resulting in a balance of $13,890.

The Following Transactions for the Month of March Have Been $10,000\$ 10,000$10,000

The Following Transactions for the Month of March Have Been $\$ 10,000$