Calculate the ending balance of the account The Accounts Receivable account of RedmondEnterprises has the following postings:Accounts Receivable$25,000$5,000$7,000Calculate the ending balance of the account.a. $5,000 creditb. $32,000 debitc. $27,000 debitd. $20,000 debit

Explanation of Accounts Receivable:Accounts receivable represent the amount of money that customers…

Answered: The Accounts Receivable account of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

See similar textbooks

Similar questions

The accompanying table, Data table Date Deposit (Withdrawal) Date Deposit (Withdrawal) 1/1/20 $8,000 1/1/22 $3,272 1/1/21 $(6,540) 1/1/23 $5,255 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) , shows a series of transactions in a savings account. The account pays 5% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. Question content area bottom Part 1 a. The account balance at the end of 2020 is $8,0008,000. (Round to the nearest dollar.) Part 2 The account balance at the end of 2021 is $1,9531,953. (Round to the nearest dollar.)
Enter a credit balance of $38,400 as of September 1, 20Y4 in the Accounts Payable general ledger account. Place a check mark (✓) in the Posting Reference column. Post the September 18, 20Y4, transaction to the account. For those boxes in which no entry is required, leave the box blank. Account Accounts Payable Account No. 21 DATE ITEM POST.REF. DEBIT CREDIT BALANCEDEBIT CREDIT Sept. 1, 20Y4 Balance Sept. 18, 20Y4
The accounts receivable account in the general ledger has a balance of $11,280. The accounts receivable ledger has the following account balances: А. Broccoli $3,242 B. Reilly 1,610 C. Greenspan 4,723 J. Fuentez Determine how much J. Fuentez owes. %24
Dog
Please Solve in 20mins
Two transactions were posted to the following creditor's account: NAME Windsurf, Inc.ADDRESS 343 Coastline Road Date Item Post Ref Debit Credit Balance Aug. 1 Balance 427 8 Invoice No. 333 CP89 427 0 15 Invoice No. 567 P18 1,177 1,177 Describe each transaction and the source of each posting. Aug. 8 Payment of $ ______to Windsurf, Inc. on account. Aug. 15 Purchased $ ______of supplies on account from Windsurf, Inc.
Need Your help expert
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company. Assume the following account balances at January 1, 20X1: Accounts Receivable (control account) Accounts Receivable-John Gibrone $8,880 5,600 Accounts Receivable-Jim Garcia 2,180 Accounts Receivable-June Lin 1,100 DATE 20X1 Jan. 8 Cash GENERAL JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT 560 560 Accounts Receivable/John Gibrone Received partial payment on account from John Gibrone 20 Sales Returns and Allowances Sales Tax Payable Accounts Receivable/Jim Garcia Accept return of defective merchandise, Credit Memorandum 121; original sale made on Sales Slip 11102 of January 2, 20X1 300 24 324 Required: 1. Prepare a schedule of accounts receivable for Calderone Company at January 31, 20X1. 2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account…
i
Tanger Company has three customers: E, F, and G. The beginning accounts receivable subsidiary ledger of customers F and G have $2,600 and $1,500, respectively. The beginning Accounts Receivable balance in the general ledger is $12,000. Calculate the ending amount in the accounts receivable subsidiary ledger account of customer E, if customer E also made a $3,900 payment. OA. $4,000 OB. $3,900 OC. $1,500 OD. $2,600
Brickman’s ending balance of Accounts Receivable is $19,500. Use the data in the preceding question to compute the net realizable value of Accounts Receivable at year-end. $16,800 $19,500 $17,400 $17,900
s

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS

The Accounts Receivable account of Redmond Enterprises has the following postings: Accounts Receivable $25,000 $5,000 $7,000 Calculate the ending balance of the account. a. $5,000 credit b. $32,000 debit c. $27,000 debit d. $20,000 debit