accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of t

Question

alekssr [168]

1 year ago

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accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of t

he period. based on this information, the adjustment to net income for the period will be reported as:

Business

1 answer:

Mila [183] · Answer 1 · 2024-07-17T21:41:29+03:00

If accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as: a decrease of $4,000 which will be added to net income.

<h3>How to find the adjustment to net income?</h3>

Using this formula to determine the adjustment to net income

Adjustment to net income = accounts receivable had a debit balance - Beginning debit balance

Where:

Accounts receivable had a debit balance = $10,000

Beginning debt balance = $6,000

Let plug in the formula

Adjustment to net income = $10,000 - $6,000

Adjustment to net income = $4,000

Therefore we can conclude that the adjustment to net income for the period will be reported as a decrease of $4,000 which will be added to net income.

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