On December 1, the Accounts Receivable account had a $22,000 debit balance. During December the business earned $10,500 in revenue on account and collected $13,200 from its charge-account customers. After posting these transaction, the balance in the Accounts Receivable account on December 31 is:
A) a $19,300 debit balance.
B) a $24,700 debit balance
C) a $24,700 credit balance.
D) a $23,700 credit balance
Correct Answer:
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