Wilson Company began the accounting period with a $16,000 debit balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $44,000. The accounts receivable account at the end of the accounting period contained a $8,000 debit balance. Based on this information, the cash collected from accounts receivable during the period is
A)$42,000
B)$20,000
C)$40,000
D)$52,000

Question

Quizplus · Accepted Answer

$16,000 beg. balance + $44,000 rev. on account - $8,000 en

Wilson Company Began the Accounting Period with a $16,000 Debit