Question

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

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?

Homework Answers

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

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