Information from the records of TEAM PAYAMAN Co. is shown below:                       Accounts Receivable -net of 20,000 credit balance in customers' accounts   200,000 Notes Receivable - Trade           20,000 Notes Receivable - non trade, collectible within one year     100,000 Dividends Receivable           4,000 Subscriptions Receivable           8,000 Advances to officers and employees (due in 18 months)     16,000 Accounts Payable - net of 12,000 debit balance in suppliers' accounts   12,000                   How much is the total trade receivables?           a. 220,000 c. 252,000             b. 240,000 d. 262,000

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is