On January 1,2012,Lexmark Company's Accounts Receivable Account Had a Debit

question 27

Multiple Choice

On January 1,2012,Lexmark Company's Accounts receivable account had a debit balance of $10,000.During January,2012,the company billed customers for services in the amount of $300,000.Also during January,the company collected $240,000 from its customers on account.What was the balance in the Accounts receivable account at the end of January?

• A) $60,000
• B) $250,000
• C) $70,000
• D) $10,000