Power Enterprises Uses Accrual Basis Accounting

Multiple Choice

Power Enterprises uses accrual basis accounting.During October,the company recorded sales revenue of $150,000 from sales of goods to customers who promised to pay in November.During November,the company received payment from these customers of $135,000.No other transactions with customers took place during these two months.Which of the following statements is correct?

A) The Sales Revenue account will have a $135,000 balance at October 31.
B) The Accounts Receivable account has a balance of $15,000 at November 30.
C) The Accounts Payable account has a balance of $15,000 at October 31.
D) The Sales Revenue account will have a $135,000 balance at November 30.