The Accounts Receivable account has a beginning balance of $10,000 and the company provides services of $50,000 on account during the month.The ending balance was $12,000.How much did the company receive from customers during the month?
A)$50,000.
B)$52,000.
C)$48,000.

Question

Quizplus · Accepted Answer

The company received $48,000 from customers. This is calculated by adding the beginning balance of Accounts Receivable ($10,000) to the amount of services provided on account ($50,000), which equals $60,000, and then subtracting the ending balance of Accounts Receivable ($12,000). This calculation shows that $48,000 was collected from customers during the month.

The Accounts Receivable Account Has a Beginning Balance of $10,000