Start by selecting the labels and then enter the amounts to calculate the balance in accounts receivable at 30,000.00.
Date ACCOUNT TITLES AND EXPLANATIONS DEBIT ($) CREDIT ($)
29-Feb-16 Bad Debts Expense 2,400.00
Accounts Receivable 2,400.00
(Write off an uncollectible account)
Requirement 2
Accounts Receivable
$ $
Balance b/d 14,000.00 17,000.00 Collected
Revenue 16,000.00 2,400.00 Wrote off
10,600.00 Balance c/d
30,000.00 30,000.00.
Accounts receivable is the amount a customer owes your business for the products or services they bill you for. The total value of all accounts receivable is recorded as a current asset on the balance sheet and includes invoices for items or work performed on credit to customers.
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