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Myah Co earns $26,684 of revenue on account and in $6,874 cash revenue transactions in Year...

Question

Myah Co earns $26,684 of revenue on account and in $6,874 cash revenue transactions in Year...

Myah Co earns $26,684 of revenue on account and in $6,874 cash revenue transactions in Year 1. Cash collections of receivables amount to $8,453 in Year 1 with the remainder being collected in Year 2. Based on this info alone the company’s financial statements would show

Accounts Receivable at the end of Year 1 $_

Answers

Based on this info alone the company’s financial statements would show Accounts Receivable at the end of Year 1 $18,231

(accounts receivable $26,684 - $8,453 collection)


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