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18 June, 18:01

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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  1. 18 June, 18:06
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    Answer: = $2,500

    Explanation:

    Given that,

    Beginning accounts receivable = $3,500

    Credit sales = $5,000

    Collected cash on accounts = $6,000

    Ending balance in accounts receivable = Beginning accounts receivable + Credit sales - Cash collections

    = $3,500 + $5,000 - $6,000

    = $2,500
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