Multiple Choice
On January 1,2015,the Accounts Receivable of Linda Inc.had a debit balance of $20,000.During January,the company provided services for $600,000 on account.The company collected $250,000 from its customers on account in January.What was the ending balance in the Accounts Receivable account at the end of January?
A) $350,000
B) $620,000
C) $370,000
D) $600,000
Correct Answer:
Verified
Correct Answer:
Verified
Q8: The advance cash payments of future expenses
Q22: The time period concept states that _.<br>A)
Q68: In accounting terms, the calendar year is
Q77: Classic Artists' Services hired a maintenance man
Q79: On January 1,Unearned Revenue of Maywood Inc.had
Q80: The entry to record depreciation includes a
Q81: On December 31,2014,the balance in Pinnacle Exploration
Q89: Viva Inc. had bought machine X for
Q125: Under cash basis accounting,revenue is recorded when
Q182: Generally Accepted Accounting Principles (GAAP)require the use