Use the following information to calculate ending balance in accounts receivable. (This is a tricky question. All

Question:

Use the following information to calculate ending balance in (This is a tricky question. All the information is relevant. Set up T-accounts or a spreadsheet to help.)
• at the beginning of the period $75,000
• Revenue for the period (there are no cash sales) 400,000
• Unearned revenue at the beginning of the period 10,000
• Unearned revenue at the end of the period 15,000
• Cash collected-accounts receivable 355,000

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...