Ask Question
20 February, 16:14

At the beginning of january of the current year, little mikey's catering ledger reflected a normal balance of $53,000 for accounts receivable. during january, the company collected $15,000 from customers on account and provided additional services to customers on account totaling $12,600. additionally, during january one customer paid mikey $5,100 for services to be provided in the future. at the end of january, the balance in the accounts receivable account should be:

Answers (1)
  1. 20 February, 16:42
    Since services provided during January were valued at $12,600 but apparently not yet paid, and pay for future services was $5100, then I would say that the accounts receivable should read $12,600 plus $5100 = $17,700. I included the $5100 in this because until the services are provided I would say it cannot be taken in as income yet until the services are actually provided.
Know the Answer?