On january 1 2012 lexmark companys accounts receivable, Ask an Expert

Accounting

On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company collected $240,000 from its customers on account. What was the balance in the Accounts receivable account at the end of January?

A) $60,000

B) $250,000

C) $70,000

D) $10,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9628485

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