original and Adjusting ENtries for the following:

1. The income taxes payable for 2009 were paid (3200)
2. At year end, an additional 4000 of sales salaries are owed, but have not yet been paid

The 2003 accrual-basis income statement for Mason Corporation reports sales revenue of $10,000. The related balance sheet accounts for the beginning and end of the year were:


Jan 1, 2003 Dec 31, 2003
Unearned Sales Revenue $0 $500
Accounts Receivable $500 $2,500

Based on this information, the amount of cash collected during 2003 from Mason’s customers was:
A. $8,500
B. $8,000
C. $9,000
D. $10,000