With the ________ collaboration tool set, a participant should be able to collaborate with his or her team, though he or she will get little support from the software

The following transactions for March have been journalized and posted to the proper accounts

Mar. 1 The business received $8,000 cash and issued common stock to stockholders. Mar. 2 Paid the first month's rent of $600. Mar 3 Purchased equipment by paying $1,000 cash and executing a note payable for $4,000. Mar. 4 Purchased office supplies for $650 cash. Mar. 5 Billed a client for $13,000 of design services completed. Mar. 6 Received $7,000 on account for the services previously recorded. What is the ending balance in the Service Revenue account? A) $15,000 B) $8,000 C) $13,000 D) $7,000

Asset and liability accounts are closed to the Income Summary account

Indicate whether the statement is true or false