On January 1, 2015, the Accounts Receivable of Linda Company

question 46

Multiple Choice

On January 1, 2015, the Accounts Receivable of Linda Company 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

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Definitions:

Collaborators

Individuals or entities that work together on a project or activity, sharing responsibility and making contributions towards a common goal.

Upward Communication

The flow of information from lower levels of a hierarchy to higher levels, often involving feedback, suggestions, or reports from employees to management.

Employees

Individuals who are hired to perform specific jobs in exchange for payment.

Managers

Individuals responsible for controlling or administering all or part of a company or similar organization.