25 Consider the following account starting balances and journal transactions inv

Question

25

Consider the following account starting balances and journal transactions involving these accounts.
Use T-accounts to record the starting balances and organize the offsetting entries for the transactions.

The starting balance of Accounts Receivable is $4,400
The starting balance of Cash is $9,100
The starting balance of Inventory is $4,800

What is the final amount in Accounts Receivable?

Date Accounts Explanation Debit Credit Jan 19 Cash 12 Accounts Receivable 12 Jan 20 Inventory 18 Cash 18 Jan 21 Cash

25

Inventory 25

Explanation / Answer

Solution:

Final amount in accounts receivables = $4,388

Accounts Receivables Particulars Debit Particulars Credit Beginning balance $4,400.00 By Cash $12.00 Ending balance $4,388.00 Total $4,400.00 Total $4,400.00

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