On january 1, 2012, lexmark company''s accounts, Accounting Basics

Assignment Help:

On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company collected $240,000 from its customers on account. What was the balance in the Accounts receivable account at the end of January?

A) $60,000

B) $250,000

C) $70,000

D) $10,000

 

 


Related Discussions:- On january 1, 2012, lexmark company''s accounts

Database management system - accounting perspective, Q. Database management...

Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale

Dogwood florist opened a business january 1st 2010., Dogwood florist opened...

Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare

Preparing financial statements for a merchandising business, Preparing fina...

Preparing financial statements for a merchandising business (The statements are completed in this order.) 1.  Income Statement (contains only expenses and revenue and show

Donna, Jan. 1 Purchased a small company and recorded goodwill of $150,000. ...

Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an

Concept of flow of funds, Concept of Flow of Funds :  It refers to the 'Cha...

Concept of Flow of Funds :  It refers to the 'Change in Funds' or 'Change in Working Capital'.  That is, any increase or decrease in Working Capital. In business, daily, numerous t

Accounting system in india.., procedure followed in government system of ac...

procedure followed in government system of accounting in india

What is the original annual mortgage payment, You just took out a variable-...

You just took out a variable-rate mortgage on your new home. The mortgage value is $100,000, the term is 30 years, and initially the interest rate is 8%. The interest rate is fixed

General journal, owner invested 80000 cash and 2000 office equpmeent in to ...

owner invested 80000 cash and 2000 office equpmeent in to the business bank account

The total assets of capp co. are $600, The total assets of Capp Co. are $60...

The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?

Branches of accounting, introduction,features,objectives,types of branches,...

introduction,features,objectives,types of branches,difference between branches and departments

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd