The Accounts Receivable T account shows the following $250, debit
$1,250, debit
$300, credit
$250, credit
What is the balance of the account?

Question

Quizplus · Accepted Answer

Starting with a balance of $0, the first transaction represents a debit (increase) of $250, bringing the balance to $250. The second transaction represents a debit (increase) of $1,250, bringing the balance to $1,500. The third transaction represents a credit (decrease) of $300, bringing the balance to $1,200. The fourth transaction represents a credit (decrease) of $250, bringing the balance to $950, which is a debit balance. Therefore, the correct answer is C.

The Accounts Receivable T Account Shows the Following $250, Debit