Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / At December 1, 2008, Marco Company’s accounts receivable balance was $1,200
At December 1, 2008, Marco Company’s accounts receivable balance was $1,200. During December, Marco had credit revenues of $5,000 and collected accounts receivable of $4,000. At December 31, 2008, the accounts receivable balance is
a. $1,200 debit.
b. $2,200 debit.
c. $6,200 debit.
d. $2,200 credit.
Answer:
At December 31, 2008, the accounts receivable balance = Accounts Receivable Balance - Revenues Collected + Credit Revenues
= $ 1,200 - $ 4,000 + $ 5,000
= $ 2,200 Debit
Hence the correct answer is b. $ 2,200 debit.
