The following transactions have been journalized and posted to the proper accounts. 1. Mark Call invested $7,000 cash in his new design services business. 2. The business paid the first month's rent with $700 cash. 3. The business purchased equipment by paying $2,000 down and executing a note payable for $4,500. 4. The business purchased supplies for $850 cash 5. The business billed its clients a total of $4,000 for design services rendered. 6. The business collected $3,000 on account from one of its clients. What is the balance in Accounts receivable? $8,500 $1,000 $7,000 $4,000 The following transactions for the month of March have been journalized and posted to the proper accounts Mar. 1 Mar. 2 Mar. 3 Mar. 4 Mar. 5 Mar. 6 The business received a $9,000 cash contribution from the owner. Paid the first month's rent of $600. Purchased equipment by paying $4,000 cash and executing a note payable for $5,000 Purchased office supplies for $600 cash. Billed a client for $10,000 of design services completed. Received $8,000 on account for the services previously recorded What is the balance in Accounts Receivable? $8,000 $2,000 $5,000 $10,000 The following transactions have been journalized and posted to the proper accounts. 1. Mark Call invested $7,000 cash in his new design services business. 2. The business paid the first month's rent with $700 cash. 3. The business purchased equipment by paying $2,000 down and executing a note payable for $4,500. 4. The business purchased supplies for $850 cash. 5. The business billed its clients a total of $4,000 for design services rendered. 6.The business collected $3,000 on account from one of its clients. What is the balance in Service revenue? $1,000 $3,000 $4,000 $3,150 ABC Services reported the following transactions for September, 2013 A) The owner opened the business with a capital contribution of $23,500 cash. It was credited to Capital. B) The business purchased office equipment for $11,500. The business paid $2,500 down and put the balance on a note payable. C) The business paid a utility bill for $980 cash. D) The business paid $2,000 cash for September rent. The business had sales of $15,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales F) The business paid $9,700 cash for office furniture. What is the net income for September, 2013? $12,020 o $9,000 $6,020 $5,300 The following transactions have been journalized and posted to the proper accounts. 1. Mark Call invested $7,000 cash in his new design services business. 2. The business paid the first month's rent with $700 cash. 3. The business purchased equipment by paying $2,000 down and executing a note payable for $4,500. 4. The business purchased supplies for $850 cash. 5 The business billed its clients a total of $4,000 for design services rendered. 6. The business collected $3,000 on account from one of its clients. How much was net income? $700 $300 $3,300 O $2,450