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The Accounts Receivable account has a beginning balance of $20,000 and the company
The Accounts Receivable account has a beginning balance of $20,000 and the company provides services of $70,000 on account during the month. The ending balance was $21,000. How much did the company receive from customers during the month?
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ewash04
4,4(60 marks)
$69,000
Explanation:
Data provided
Beginning balance = $20,000
Sales = $70,000
Ending balance = $21,000
The computation of company receive from customers during the month is shown below:-
Cash received from the customers = Beginning balance + Sales - Ending balance
= $20,000 + $70,000 - $21,000
= $90,000 - $21,000
= $69,000
lola5683
4,7(48 marks)
The government (1) provides the legal and social framework within which the economy operates, (2) maintains competition in the marketplace, (3) provides public goods and services, (4) redistributes income, (5) cor- rects for externalities, and (6) takes certain actions to stabilize the economy
Explanation:
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