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i Safari File Edit View History Bookmarks Window Help 91%-. Fri 11:47 AM a + E Hamewark 3 Accounting question Chegg.com BusinessCourse O Meredith Milholland Menu ACCT20653:080-Intro to Accounting-TTH ACCT20653:080-Intro to Accounting-TTH My Subscriptions Courses ACCT20653:080-Intro to Accounting-TTH/ Financial: Ch 3 Accrual Basis of Business Accounting Homework 3 Financial: Ch 1: Financial Accounting and Business Decisions ASSIGNMENT NAVIGATION Financial: Ch 2: QUESTION Not complete Marked out of 1.000 Flag question Processing Accounting On the last day of December 2016, Bryce Inc. entered into a transaction that resulted in a receipt of $108,000 cash in advance related to services that will be provided during January 2017. During December of 2016, the company also performed $68,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the company\'s trial balance showed service revenue of $1,600,000 at December 31, 2016. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts recelvable from prior months were collected. 6 789 10 Financial: Ch 3: Accrual Basis of Business Accounting 11 12 14 15 16 1718 19 20 -Financial: Ch 4: Understanding Financial Statements If Bryce Inc. makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 balance sheet as accounts receivable? 21 22 23 24 25 Select one: Financial: Ch 13: Analysis and Interpretation of Financial Statements Finish attempt.. A. $152,000 B. $108,000 C. $ 44,000 D. $ 68,000 Managerial: Ch 1: Overview of Managerial Accounting Check Managerial: Ch 2: Managerial Accounting Concepts and Cost Flows

Solution

Accounts receivable on December 31,2016 = $68000 Option D is correct