Question
On February 1, Harrington Corporation, a consulting company, had a beginning accounts receivable balance of $10,000. On February 5, they provided additional services to customers
On February 1, Harrington Corporation, a consulting company, had a beginning accounts receivable balance of $10,000. On February 5, they provided additional services to customers in the amount of $7,000 (which has been posted to the General Ledger below). Then on February 22, they received payments from customers on their accounts totaling $5,000 (which is also posted below). Calculate the Accounts Receivables ending balance after the February 22nd payments from customers. In other words, what is the amount
General Ledger for Accounts Receivable | ||||
Date | Explanation | Debit | Credit | Balance |
Feb. 1 | Beginning Balance |
|
| 10,000 |
Feb. 5 | Services provided to customers on account | 7,000 |
| 17,000 |
Feb. 22 | Payments received from customers |
| 5,000 | ?????? |
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