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:

Large

A term used to describe something of significant size or extent in comparison to objects of the same category.

Capsules

Protective outer coverings of certain organisms, such as bacteria, or the gelatinous containers used for the administration of drugs and supplements.

Fused Carpels

The uniting of multiple carpels (the female reproductive organs of a flower) into a single structure.

Sutures

Stitching or a series of stitches used to close a cut or wound in surgery or the natural or surgical joining of parts.