Chapter 5, Problem 5.1E

To determine

Accounts receivable:

Accounts receivable refers to the amounts to be received within a short period from customers upon the sale of goods and services on account. In other words, accounts receivable are amounts customers owe to the business. Accounts receivable is an asset of a business.

To record: Journal entry in the books of J Construction for the service rendered on account on May 7 and the collection of cash on May 13.