Question

On January​ 1, 2017, the Accounts Receivable of Martha Company had a debit balance of​ $190,000. During​ January, the company provided services for​ $400,000 on account. The company collected​ $240,000 from its customers on account in January. What was the ending balance in the Accounts Receivable account at the end of​ January?

Answer 1

End of January​, 2017

Dr Accounts Receivable $350,000

Step-by-step explanation:

• On January​ 1, 2017

Dr Accounts Receivable $190,000

• During​ January

Dr Accounts Receivable $400,000

Cr Sales $400,000

• During​ January

Dr Cash $240,000

Cr Accounts Receivable $240,000

• End of January​, 2017

Dr Accounts Receivable $350,000