.7. On March 1, 2018, Ivy began operating a service proprietorship with an initial investment of $1,000. The proprietorship provided S3.200 of service received full payment in April. The proprietorship incurred expenses of $1.50 use. April, which will be paid in May. During April, Ivy withdrew S500 in March and What was the cash bal ance for the two months ending April 30, 2018? A) $4,200 B) S3,700 C) $2,700 D) $2,200 8? The term-double-entry system' refers to: A) The use of real and nominal accounts B) The use of two journals C) The recording of each transaction in two or more accounts D) The use of a journal and a ledger 9. Information from Dominic Company's year-end financial statements is as follows: Year 1 Year 2 $ 4,200,000 S 4,000,000 2,000,000 5,000,000 16,000,000 12,400,000 1,000,000 Current Assets 1,800,000 5,400,000 17,600,000 12,800,000 Current Liabilities Equity Net Sales Cost of Merchandise Sold Operating Income 1,100,000 What is the current ratio at December 31, Year 2? A) 1.38 B) 2.94 C) 3.08 D) 2.33