At the Beginning of January of the Current Year, Little

question 221

Multiple Choice

At the beginning of January of the current year, Little Mikey's Catering ledger reflected a normal balance of $52,000 for accounts receivable. During January, the company collected $14,800 from customers on account and provided additional services to customers on account totaling $12,500. Additionally, during January one customer paid Mikey $5,000 for services to be provided in the future. At the end of January, the balance in the accounts receivable account should be:

• A) $2,300.
• B) $49,300.
• C) $54,300.
• D) $49,700.
• E) $54,700.

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