The amount reported on the balance sheet for Land Buildings and Equipment is the company's estimate of the fair market value as of the balance sheet date.

a. FALSE

b. TRUE

Q2 At November 1, 2020, Maine Inc. had an Accounts Receivable balance of $200,000. During the month, the company made sales on account of $200,000. In addition, Maine Inc. collected $350,000 from customers that owed them money. At November 30, 2020, the Accounts Receivable will have a debit balance of:

Insert your answer without $ or comma , for example if the answer is $5,000 just insert 5000

Answer: