Question

Date	Accounts Explanation	Debit	Credit
Jan 19	Cash	12
	Accounts Receivable		12
Jan 20	Inventory	18
	Cash		18
Jan 21	Cash	25
	Inventory		25

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 $4,400
The starting balance of Cash is $9,100
The starting balance of Inventory is $4,800

What is the final amount in Accounts Receivable?

Answer 1

Solution:

Accounts Receivables
Particulars	Debit	Particulars	Credit
Beginning balance	$4,400.00	By Cash	$12.00
		Ending balance	$4,388.00
Total	$4,400.00	Total	$4,400.00

Inventory
Particulars	Debit	Particulars	Credit
Beginning balance	$4,800.00	By Cash	$25.00
To Cash	$18.00	Ending balance	$4,793.00
Total	$4,818.00	Total	$4,818.00

Cash
Particulars	Debit	Particulars	Credit
Beginning balance	$9,100.00	By Inventory	$18.00
To Accounts receivables	$12.00	Ending balance	$9,119.00
To Inventory	$25.00
Total	$9,137.00	Total	$9,137.00

Final amount in accounts receivables = $4,388