The Accounts Receivable account has a beginning balance of $10,000 and the company provides services of $50,000 on account during the month

The Accounts Receivable account has a beginning balance of $10,000 and the company provides services of $50,000 on account during the month. The ending balance was $12,000.
How much did the company receive from customers during the month?

A) $50,000.

B) $52,000.

C) $48,000.

D) $62,000.

Answer: C

A trial balance can best be explained as a list of:

A) The income statement accounts used to calculate net income.

B) Revenue, expense, and dividend accounts used to show the balances of the components of retained earnings.

C) The balance sheet accounts used to show the equality of the accounting equation.

D) All accounts and their balances at a particular date.

Answer: D

A trial balance represents the:

A) Source documents used to determine the effects of transactions on the company's accounts.

B) List of all accounts and their balances at a particular date to ensure that debits equal credits.

C) Chronological record of all transactions affecting the company.

D) Process of transferring debit and credit information from the journal to the accounts in the general ledger.

Answer: B