what was the amount of collections from customers? The ending balance of the Accounts Receivable account was$10,000 and the beginning balance was $14,000. Services billedto customers for the period were $21,500. What was the amountof collections from customers?a. $17,500b. $25,500.c. None of the other alternatives are correct.d. $45,500e. $31,500

Step 1: Analysis of information givenEnding balance of Accounts Receivables = $10,000Services billed…

Answered: The ending balance of the Accounts…

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

At what amount will accounts receivable be reported on the balance sheet if the gross receivable balance is $42,500 and the allowance for uncollectible accounts is estimated at 16% of gross receivables? Select one: a. $42,500 b. $35,700 c. $28,900 d. $6,800
3. Below are the subledger accounts receivable for Emilio Company: Anthony.. Malaya Mekhi. Omari. Kaytana. Total. $ 7,200 9,700 18,200 37,000 900 $73,000 There is no balance in the Allowance for Doubtful accounts. Instructions a. Prepare the appropriate journal entries given the following transactions: i. the controller would like you the write off the following accounts as uncollectible: 7,200 18,200 Anthony. Mekhi.. Кaytana. 900 ii. received payment from Malaya for $2,600 iii. collected $7,200 from the Anthony account iv. write off the balance in the Malaya account v. collected $18,000 from Mekhi, the remainder will not be collectible vi. the controller estimates that 2% of the total accounts receivable balance will be uncollectible b. What is the net realizable value of the accounts receivable after all adjustments? Date Account Titles and Explanation PR Debit Credit
On January 1, Year 2, the Accounts Receivable balance was $32,900 and the balance in the Allowance for Doubtful Accounts was $4,100. On January 15, Year 2, an $1,210 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is: Multiple Choice $27,590. $31,690. $30.010. $28,800.
i
Need Your help expert
The following item appeared on a balance sheet: Accounts Receivable, less allowance of $57,744......$1,443,600 The gross balance in Accounts Receivable before the allowance was deducted was: OA. $1,385,856. OB. $1,443,600. OC. $1,501,344. O D. none of the above
Can you help me with A,b,c,e and f?
Accounts Receivable has a balance of $30,000, and the Allowance for Bad Debts has a credit balance of $3,200. The allowance method is used. What is the net realizable value of Accounts Receivable before and after a $2,100 account receivable is written off? OA. $24,700; $28,900 B. $26,800; $26,800 OC. $26,800; $24,700 D. $24,700; $24,700
11. Please answer which is best for
Accounts Receivable has a balance of $31,000, and the Allowance for Bad Debts has a credit balance of $3,500. The allowance method is used. What is the net realizable value of Accounts Receivable before and after a $2,000 account receivable is written off? A. $27,500; $27,500 B. $25,500; $25,500 C. $27,500; $25,500 D. $25,500;$29,500
If the Net Realisable Value of Accounts Receivable = $35,000 and the balance of Accounts Receivable = %3D $42,300, then the balance of Allowance for Doubtful Debts must be: Select one: a. $12,900 O b. $13,100 O c. $7,300 O d. $12,400
In June, Widgets, Inc. makes on account sales to Customs Motors of $800 and receives a payment of $500 from them. How would this affect the Accounts Receivable control account? O A. The AR total would be decreased by $300. O B. The AR total would be decreased by $500. O C. The AR total would be increased by $800. O D. The AR total would be increased by $300.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS