Patrick's Show Choir Company's Accounts Receivable account had a balance of $45,000 on September 1, 2016, and a balance of $64,200 on September 30, 2019. During September 2019, the company received cash of $118,200 from credit customers.
Determine the amount of sales on account that occurred in September 2019.
A) $ 78,000
B) $137,400
C) $126,000
D) $158,400

Question

Quizplus · Accepted Answer

Beginning A/R balance + Sales on account - Cash receipts = Ending A/R balance
$45,000 + X - $118,200 = $64,200
X = $64,200 - $45,000 + $118,200
X = $137,400

Patrick's Show Choir Company's Accounts Receivable Account Had a Balance