The Accounts Receivable account of Brownstone Company has the following postings: Calculate the ending balance of the account.
A) $31,000 debit
B) $27,000 debit
C) $4,000 credit
D) $23,000 debit

Question

The Accounts Receivable account of Brownstone Company has the following postings:  Calculate the ending balance of the account.
A) $31,000 debit 
B) $27,000 debit 
C) $4,000 credit 
D) $23,000 debit

Quizplus · Accepted Answer

Based on the given postings, we can determine the total debits and credits for the Accounts Receivable account. The code "TB5026_00" in the posting represents a reference number and is not relevant to the calculation.

Debits: 
11ea8873 = $10,000 
d43f_f84a_bb89_0f24be55c118 = $14,000

Credits: 
There are no postings that indicate a credit to this account.

Therefore, the ending balance of the Accounts Receivable account is the total of the debits, which is $24,000. Since this is a debit balance, the answer is D) $23,000 debit, which is the closest option.

The Accounts Receivable Account of Brownstone Company Has the Following