At January 1, 2008, Kobe Enterprises reported accounts receivable totaling $3,500. During the month, the company had credit sales of $5,000 and collected cash on accounts of $6,000. At the end of January, the balance in accounts receivable is:
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Kyle works at a donut factory, where a 10-oz cup of coffee costs 95cents¢ , a 14-oz cup costs $1.15, and a 20-oz cup costs $1.50. during one busy period, kyle served 20 cups of coffee, using 324 ounces of coffee, while collecting a total of $25.70.
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