In the second month of operations, the total of the debit entries to the accounts receivable account amounted to $500 and the total of the credit entries to the accounts receivable account amounted to $300. The opening balance of the accounts receivable account was $200. The accounts receivable account has a
A) $500 debit balance.
B) $300 debit balance.
C) $400 debit balance.
D) $0 balance.

Question

Quizplus · Accepted Answer

The opening balance of accounts receivable was $200 (debit), with additional debits of $500 and credits of $300 during the month. The closing balance is calculated as $200 + $500 - $300 = $400 debit balance.

In the Second Month of Operations, the Total of the Debit