Question - 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 $ 10000 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 $ 700.
Mar. 3 Purchased equipment by paying $3,500 cash and executing a note payable for $8000
Mar. 4 Purchased office supplies for $ 750 cash.
Mar. 5 Billed a client for $ 11000 of design services completed.
Mar. 6 Received $8000 on account for the services previously recorded.
What is the balance in Cash on March 6?
$13,050
$13,750
$14,500
$16,550