The post-closing trial balance of Zuhoor Muscat Company shows the following balances at 31 March 2021in no particular order: Cash RO 18,200. Acrounts Receivable RO 1.000; Advertising supplies RO 1.000: Prepali Insurance RO 550; Office Equlpment RO 5,000: Accumulated Depreciation on Office Equipmant RO40: Notes Payable RO 3,000; Accounts Payable RO 5,000; Unearned Revenue RO 800: Salaries Payable RO 3.700; Interest Payable RO 850: Share Capltal RO 10.000, Retalned Earnings RO 2,360. The credit side of the Epost-closing trial balance is RO 25.200 a O None of the options are correGE DO RO 25.250 RO 24.250d.O RO 24.950e O
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
The post-closing
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