Solution-Compute the balance in the accounts receivable

Compute the balance in the accounts receivable account

Assignment Help Accounting Basics

Reference no: EM132559176

Question - On January 1 of the current year, Big Pete's Dry Cleaner ledger reflected a normal balance of $64,000 for accounts receivable. During January, the company collected $17,200 from customers on account and provided additional services to customers on account totaling $13,700. Additionally, during January one customer paid Pete's $6,200 for services to be provided in the future. At the end of January, compute the balance in the accounts receivable account?

a. $3,500.

b. $60,500.

c. $66,700.

d. $61,300.

e. $67,500.

Reference no: EM132559176

Questions Cloud

What are monthly fixed costs and variable costs : What are monthly fixed costs and variable costs for this company?

What is the maximum transfer price for xyz division : What is the maximum transfer price for XYZ Division? Show calculations. What is the minimum transfer price for MNO Division? Show calculations.

What would be the amount of each of these payments : Using the present value of an ordinary annuity of 1, what would be the amount of each of these payments, assuming that they begin on December 31, 2017

Today about promising future energy : If oil executives read in the newspaper that massive new oil supplies have been discovered under the Pacific Ocean

Compute the balance in the accounts receivable account : One customer paid Pete's $6,200 for services to be provided in the future. At the end of January, compute the balance in the accounts receivable account

Number of gallons of liquor demanded : In an effort to reduce alcohol consumption, the government of economy XYZ is considering $1 tax on each gallon of liquor sold

Oriented programming in microsoft visual studio : Describe the class of objects Square with value of side and implement property area. Implement a method to display the parameters of the Object.

Find should the special order be accepted : If XYZ has excess capacity in its production line and has no alternative use for the space that is idle, should the special order be accepted?

Where are the details used to best effect : Does the paper have a clear point, thesis at the beginning (the first two sentences)? If not, how might it be better focused? Where are details NOT effective.

User Account

All Pages

Compute the balance in the accounts receivable account

Reference no: EM132559176

Reference no: EM132559176

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT