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On January​ 1, 2017, the Accounts Receivable of Martha Company had a debit balance of​ $190,000. During​ January, the company provided services for​ $400,000 on account. The company collected​ $240,000 from its customers on account in January. What was the ending balance in the Accounts Receivable account at the end of​ January?

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mltn1980

Answer:

End of January​, 2017    

Dr Accounts Receivable  $350,000  

Explanation:

  • On January​ 1, 2017  

Dr Accounts Receivable $190,000  

  • During​ January  

Dr Accounts Receivable $400,000  

Cr Sales                           $400,000  

  • During​ January  

Dr Cash                            $240,000  

Cr Accounts Receivable $240,000  

  • End of January​, 2017  

Dr Accounts Receivable    $350,000  

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