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26 August, 13:27

At June 1, 2018, Coquehcot Industries had an accounts receivable balance of $12,000. During the month, the company performed credit services of $30,000 and collected accounts receivable of $22,000. What is the balance in accounts receivable at June 30, 2018?

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  1. 26 August, 15:00
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    At the end of the period, account receivable balance shall be $20,000

    Explanation:

    Account receivable is an account to register credit sale. It is an asset account and is increased with a debit entry.

    In this example, opening balance is $12,000.

    Credit sale for the month $30,000

    less collections received $22,000

    Closing Balance : $20,000
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