Accounts Receivable Had Beginning Balance of $8,420 and an Ending

question 212

Multiple Choice

Accounts Receivable had beginning balance of $8,420 and an ending balance of $6,990,and collections on account were $19,200.What was the amount of services that were performed on account?

• A)$17,770.
• B)$34,610.
• C)$20,630.
• D)$3,790.

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Definitions:

U.S. Tax Liability

The total amount of tax owed to the United States government by an individual or entity for a given tax year.

Total Income

The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes.

Adoption Credit

A tax credit offered to offset the expenses incurred in the process of legally adopting a child.

Modified AGI

Adjusted Gross Income as further modified by specific deductions and exclusions for certain tax calculations.