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Ainat [17]
3 years ago
5

At January 1, 2008, Kobe Enterprises reported accounts receivable totaling $3,500. During the month, the company had credit sale

s of $5,000 and collected cash on accounts of $6,000. At the end of January, the balance in accounts receivable is:
Business
1 answer:
VashaNatasha [74]3 years ago
7 0

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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