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You are reviewing a company's general ledger. It shows consecutive balances of $52,111 and $60,564 for the Accounts Receivable account. Without looking at the transaction column, what was the transaction

Respuesta :

akiran007

Answer:

Accounts Receivable   $8453 (debit)

Sales  $8453( credit)

Explanation:

The consecutive balances are $52,111 and $60,564 which means that the Accounts Receivable has increased from $52,111 to $60,564.

Increase in Accounts Receivable=  $60,564 - $52,111

                                                     =$8453

The Accounts Receivable balance increases when sales are made on accounts with certain given terms etc.

So the transaction would be

Accounts Receivable   $8453 (debit)

Sales  $8453( credit)

The debit in accounts receivable shows that the balance has increased . Also the credit in Sales accounts show that the sales have increased.

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