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The beginning balance of Fairground, Co.s Accounts Receivable on 3/1/2019 was $7,090. During March, the company had the following transactions: Issued 5,000 shares of common
The beginning balance of Fairground, Co.s Accounts Receivable on 3/1/2019 was $7,090. During March, the company had the following transactions:
- Issued 5,000 shares of common stock at par value for $20,000 cash.
- Purchased equipment for $2,500, paying cash.
- Provided services to customers worth $11,670 on account.
- Purchased additional supplies worth $1,750 on account.
- Received cash of $13,090 from customers for services provided during the month.
- Paid creditors $3,480 for supplies previously purchased on account.
- Paid employees $5,600 in cash for March salaries.
What was the balance of the companys Accounts Receivable account as of 3/31/2019 following these transactions?
a. | $5,670. | |
b. | $8,510. | |
c. | $5,360. | |
d. | $8,820. | |
e. | $3,940. |
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