A sole proprietorship reported the following transactions for the month of March. The transactions have been journalized and posted to the proper accounts.

Mar. 1 The business received $7,000 cash from the owner in exchange for capital.

Mar. 2 Paid the first month's rent of $600.

Mar. 3 Purchased equipment by paying $4,000 cash and executing a note payable for $3,000.

Mar. 4 Purchased office supplies for $700 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 balance in Accounts Receivable?

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Part 1

A.

$10,000

B.

$8,000

C.

$2,000

D.

$3,000