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Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions.
The starting balance of Accounts Receivable is $4,100 The starting balance of Cash is $14,300 The starting balance of Inventory is $5,800
Date | Accounts and Explanation | Debit | Credit |
---|---|---|---|
Jan 19 | Inventory | 17 | |
Cash | 17 | ||
Bought manufacturing supplies for cash | |||
Jan 20 | Cash | 30 | |
Inventory | 30 | ||
Sold and delivered product to customer at cost | |||
Jan 21 | Cash | 11 | |
Accounts Receivable | 11 | ||
Received customer payment |
What is the final amount in Accounts Receivable?
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