What is the ending balance of the following account on October 31? Accounts Receivable Oct. 1...
What is the ending balance of the following account on October
31?
| Accounts Receivable | |||
| Oct. 1 | 20,000 | (b) | 23,000 |
| (a) | 18,000 | ||
What is the ending balance of this account on October 31?
a.$61,000 debit
b.$15,000 debit
c.$15,000 credit
d.$38,000 credit
Homework Answers
Correct answer---b. $15000 Debit
|
Beginning balance |
$ 20,000.00 (Dr) |
|
Add: Credit sales |
$ 18,000.00 (Dr) |
|
Less: Cash received from receivables |
$ (23,000.00) (Cr) |
|
Ending balance |
$ 15,000.00 (Dr) |
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