At December 1, 2011, Gibson Company's accounts receivable balance was €1,800.During December, Gibson had credit revenues of €7,500 and collected accounts receivable of €6,000.At December 31, 2011, the accounts receivable balance is

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At December 1, 2011, the accounts receivable balance was €1,800. During December, the company had credit revenues of €7,500, which means that the company added €7,500 to their accounts receivable balance. However, the company also collected €6,000 from their accounts receivable during December, which means that they subtracted €6,000 from their accounts receivable balance.

To find the balance at December 31, we can add the beginning balance to the credit revenues and then subtract the collections.

Beginning balance: €1,800
Add: Credit revenues €7,500 
Subtract: Collections €6,000

€1,800 + €7,500 - €6,000 = €3,300

Therefore, the accounts receivable balance at December 31, 2011 is €3,300 debit.

At December 1, 2011, Gibson Company's Accounts Receivable Balance Was