8pt The following information is for X Companys operations d

8pt The following information is for X Company\'s operations during the year Sales on account Cash sales Cash collections from customers on account $5,794 5,011 6,192 If the Accounts Receivable balance at the end of the year was $894, what was the Accounts Receivable balance at the beginning of the year? 8. AO S662 BO $827 CO S1,034 DO $1,292 EO S1,615 FO $2,019

Solution

Solution:

Beginning accounts receivables + Sales on account - Ending accounts receivables = Cash collection from customer

Beginning accounts receivable + $5,794 - $894 = $6,192

Beginning accounts receivable = $6,192 + $894 - $5,794 = $1,292

Hence option D is correct.