Springer Company, a sole proprietorship, had the following transactions in August Farned $2.000 of revenues on account: collected $4,000 from a customer for services provided last month; incurred $800 of repair expense and paid cash; paid $500 for rent that it owed from the previous month. What is the net income in August? O A. $5,200 O B. $4,000 C. $800 OD. $1,200 The following transactions for the month of March have been journalized and posted to the proper accounts of a sole proprietorship. Mar. 1 The business received $7,000 cash from the owner of the business, Morris Tharps the business gave capital to Morris Tharps. Mar.2 Paid the first month's rent of $900. Mar. 3 Purchased equipment by paying $2,500 cash and executing a note payable for $5,000. Mar. 4 Purchased office supplies for $700 cash. Billed a client for $11,000 of design services completed. Mar. 6 Received $8,000 on account for the services previously recorded. What is the balance in Cash on March 6