Smith Technical Services is working on a six-month job for a client, starting February 1. They will collect $30,000 from their customer when the job is finished. On March 1, their Accounts Receivable account had a debit balance of $5,000. At the end of March, after monthly adjusting entries have been made, what will be the balance in Accounts Receivable?
A)Debit balance of $5,000
B)Credit balance of $25,000
C)Debit balance of $10,000
D)Debit balance of $30,000

Question

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The Answer of Smith Technical Services is working on a six-month job for a client, starting February 1. They will collect $30,000 from their customer when the job is finished. On March 1, their Accounts Receivable account had a debit balance of $5,000. At the end of March, after monthly adjusting entries have been made, what will be the balance in Accounts Receivable?
A)Debit balance of $5,000
B)Credit balance of $25,000
C)Debit balance of $10,000
D)Debit balance of $30,000

Smith Technical Services Is Working on a Six-Month Job for a Client