Question
A business has the following transactions: The business receives $25,000 cash and issues common stock to stockholders. The business purchases $800 of office supplies on
A business has the following transactions:
The business receives $25,000 cash and issues common stock to stockholders. |
The business purchases $800 of office supplies on account. |
The business purchases $4,000 of furniture on account. |
The business renders services to various clients totaling $17,000 on account. |
The business pays $2,000 for salaries expense and $5,000 for rent expense. |
The business pays $800 to a supplier for the office supplies purchased earlier. |
The business collects $3,000 from one of its clients for services rendered earlier in the month. |
At the end of the month, all journal entries are posted to the ledger. Accounts Receivable will appear as which of the following?
A.
Accounts Receivable
17,000 | 3,000 | |
14,000 | Bal. |
B.
Accounts Receivable
17,000 | 3,000 | ||
Bal. | 14,000 |
C.
Accounts Receivable
17,000 | |||
Bal. | 17,000 |
D.
Accounts Receivable
3,000 | 17,000 | ||
14,000 | Bal. |
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