At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Apple Company of $5,000 and Berry Company of $7,000. During the month, credit sales were made to Apple for $6,000, Berry for $4,500, and Cantaloupe for $8,500. Cash was collected on account from Berry for $11,500 and Cantaloupe for $3,000. At the end of the month, the control account Accounts Receivable in the general ledger should have a balance of: a. $12,000 b. $31,000 c. $16,500 d. $11,000

At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Apple Company of $5,000 and Berry Company of $7,000. During the month, credit sales were made to Apple for $6,000, Berry for $4,500, and Cantaloupe for $8,500. Cash was collected on account from Berry for $11,500 and Cantaloupe for $3,000. At the end of the month, the control account Accounts Receivable in the general ledger should have a balance of: a. $12,000 b. $31,000 c. $16,500 d. $11,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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