Question

At June 1, 2022, Massoth Industries had an Accounts Receivable balance of $18,000. During the month, the company had credit sales of $25,000 and collected Accounts Receivable of $27,000. What is the balance in Accounts Receivable at June 30, 2022

Answer 1

Answer:

$16,000

Explanation:

Calculation to determine the balance in Accounts Receivable at June 30, 2022

Accounts Receivable balance $18,000

Add Credit sales $25,000

Less Accounts Receivable ($27,000)

Balance in Accounts Receivable $16,000

($18,000+$25,000-$27,000)

Therefore the balance in Accounts Receivable at June 30, 2022 is $16,000

Answer 2

The balance in Massoth Industries' Accounts Receivable on June 30, 2022, is $16,000.

Data and Calculations:

Accounts receivable balance at June 1, 2022 = $18,000

Credit sales for the month = $25,000

Cash collection from customers = $27,000

Thus, the balance in Massoth Industries' Accounts Receivable at June 30, 2022, is $16,000 ($18,000 + $25,000 - $27,000).

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