Based on the below transactions, IF you were to journalize and post them, state how much would be the balance of the accounts receivable account
Based on the below transactions, IF you were to journalize and post them, state how much would be the balance of the accounts receivable account only and state what type of balance this account would have at the end of the period (debit or credit) (4 pts total). You are not asked to journalize and post. Do only what is asked.
Owner invested $5,000 cash
Billed customers for services provided, $4,000
Purchased supplies on account, $1,000
Paid creditor, $200
Received $350 from customers on account
Provided services to customers and received cash, $200
Customers made payment of $500 on account
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Account Receivable has 3150 at the end of period It is debit Balance Explanation working 1 Account ...See step-by-step solutions with expert insights and AI powered tools for academic success
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