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A sole proprietorship has the following transactions: The business receives $25,000 cash from the owner in exchange for capital. The business purchases $800 of office
A sole proprietorship has the following transactions: The business receives $25,000 cash from the owner in exchange for capital. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account The business performs services for various clients totaling $12,000 on account. The business pays $1,500 for salaries expense and $5,500 for rent expense. The business pays $800 to a supplier for the office supplies purchased earlier. The business collects $1,000 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? ..... OA. Accounts Receivable 1,000 12,000 11,000 Bal. OB. Accounts Receivable 12,000 1,000 11,000 Bal. OC. Accounts Receivable 12,000 1,000 11,000 Bal. OD. Accounts Receivable 12,000 12,000 Bal
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