Question

warren company began the accounting period with a $44,000 debit balance in its accounts receivable account. during the accounting period, the company recorded revenue on account amounting to $100,000. the accounts receivable account at the end of the accounting period contained a $22,000 debit balance. based on this information, what is the amount of cash collected from customers during the period? $84,000 $110,000 $122,000 $34,000 none of the above.

Answer 1

At the end of the accounting quarter, the accounts receivable account had a $22,000 debit balance. Based on this data, the total cash received from clients during the time was $122,000.

What is a balance with a debit and credit?

An account's debit entry shows a value transfer into the account, and its credit entry shows a value transfer out of the account. With every transaction, money is moved from credited to debited accounts.

Which account is in the debit column?

The owner's drawing account, expenses, losses, and other items typically have debit balances. With a debit, their balances will rise.

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