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During the month, services performed for customers on account amounted to $7,960, and collections from customers in payment of their accounts totaled $6,350. At the end of the month, the Accounts Receivable account had a balance of $3,130. What was the Accounts Receivable balance at the beginning of the month?

Please Provide how the problem is sloved and final numberic answer. Thank you.

2007-09-19 19:37:14 · 2 answers · asked by mr.paulio 2 in Business & Finance Other - Business & Finance

2 answers

Let x = the balance at the beginning of the month

x + 7,960. - 6,350. = 3,130.
x + 1,610. = 3,130.
x = 3,130. - 1,610.
x = 1,520. ANSWER

Check: If the account had 1,520. dr in the beginning, a 7,960. dr added to it would equal 9,480.
9,480. dr less 6,350. cr = 3,130. ending balance

2007-09-19 20:29:06 · answer #1 · answered by fivestring46 4 · 0 0

I'll explain it this way:

Beginning a/c balance ?
Add:
Svcs performed on a/c 7,960
Less:
Received from customer (6,350)
= Ending a/c balance 3,130

Simply using a calculator, you'll find out that the beginning a/c bal. is $1,520.

2007-09-19 20:40:46 · answer #2 · answered by Sandy 7 · 0 0

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