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On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected
On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:
CashAccounts PayableAccounts ReceivableShawn Dahl, CapitalOffice EquipmentRevenueCanoe and Kayak EquipmentExpenses
Transactions
- Shawn Dahl invested $44,500 in cash to open the business
- Paid $12,200 in cash for the purchase of kayak and canoe equipment
- Paid $1,800 in cash for rent expense
- Purchased additional kayak and canoe equipment for $4,550 on credit
- Received $4,650 in cash for kayak rentals
Based on the information shown above, what is the balance of Accounts Receivable for Whitewater Rentals at the end of September?
- Rented canoes and kayaks for $1,950 on account
- Purchased office equipment for $200 in cash
- Received $1,175 in cash from credit clients
- Shawn Dahl withdrew $2,250 in cash for personal expenses
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