On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions
Question:
On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:
Cash | | Accounts Payable |
Accounts Receivable | | Shawn Dahl, Capital |
Office Equipment | | Revenue |
Canoe and Kayak Equipment | | Expenses |
Following are the transactions:
1. Shawn Dahl invested $44,400 in cash to open the business
2. Paid $12,100 in cash for the purchase of kayak and canoe equipment
3. Paid $1,850 in cash for rent expense
4. Purchased additional kayak and canoe equipment for $4,600 on credit
5. Received $4,700 in cash for kayak rentals
6. Rented canoes and kayaks for $2,000 on account
7. Purchased office equipment for $205 in cash
8. Received $1,200 in cash from credit clients
9. Shawn Dahl withdrew $2,300 in cash for personal expenses
Based on the information shown above, what is the balance of Accounts Receivable for Whitewater Rentals at the end of September?
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher