contestada

Greyco and sons earns $6,900 of revenue on account in year 1. Cash collections of receivables amount to $6,300 in year 1 with the remainder being collected in year 2. Based on this information alone the company’s financial statements would show.

Respuesta :

Parrain

Based on the given information, the financial statements would show a balance of $600 in accounts receivable at the beginning of Year 2.

Accounts receivables

  • These are cash owed to the company for goods received.
  • They are considered assets.

The company made $6,900 in year 1 but only $6,300 from this was paid. They are therefore being owed an amount of:

= 6,900 - 6,300

= $600

This amount will go to the Accounts Receivable at the end of year 1 and open the account in year 2.

Find out more on accounts receivables at https://brainly.com/question/24871345.

Otras preguntas