Question

At the beginning of January of the current year, Little Mikey's Catering ledger reflected a normal balance of $68,000 for accounts receivable. During January, the company collected $18,000 from customers on account and provided additional services to customers on account totaling

Answer 1

Answer:

$62,900

Explanation:

To calculate the ending balance of accounts receivable we can use the following formula:

ending  balance of accounts receivable = beginning accounts receivable ($68,000) + services on account ($12,900) - collections from customers ($18,000) = $62,900