Multiple Choice
ABC Company had a beginning Accounts Receivable balance of $10,000, and had $12,000 of sales on account for the month. The ending Accounts Receivable balance was $14,000. Collections on Accounts Receivable for the month:
A) were $12,000.
B) were $36,000.
C) were $8,000.
D) can't be determined from the information given.
Correct Answer:
Verified
Correct Answer:
Verified
Q28: Purchasing supplies on account would:<br>A)increase total assets
Q59: A record of all the changes in
Q79: The process of copying the information from
Q111: Accrued Salaries Payable is a liability account.
Q112: If the credit amount of an entry
Q115: A trial balance is a list of
Q117: All of the statements are true about
Q119: The classification and normal balance of the
Q120: If the debit amount of an entry
Q124: Accounting transactions are initially recorded in the:<br>A)T-account.<br>B)ledger.<br>C)journal.<br>D)financial