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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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