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CREDITS (5) 34.38 CURRENT BALANCE 378.12 END DATE Dec 24, 2018 Summary of Device Balance by user USER STARTING BALANCE 825.00 APPLE 17 128GB SILVER LTE ARTL 925.00 APPLE I7 128GB BLACK LTE ART. 825.00 APPLE I7 128GB ROSE GOLD LTE ARTIL 423.98 Dec 24, 2018 31.3 31.5 378.12 Dec 24, 2018 825.00 18 378.12 Dec 24, 2018 APPLE 17 128GB JET BLACK LTE ARTL On the top-right is information about how much the customer owes if they cancel the contract. On the bottom-right is the itemization of the current month's bill showing that the customer needs to pay $355.95. The cell service provider booked $3,400 as a DEBIT to Accounts Receivable and a credit to Revenue when the contract began. Ignore that cell phone services are typically billed in advance of the provision of service. Based on those facts, answer the following questions: What was the balance in Accounts Receivable immediately before this bill was sent? The customer purchased the phones on December 24, 2016. What month is it currently? When the company sends this bill, what entry should they record? How much Revenue? When the company receives the customer's payment, what entry should they record? What will the balance in Accounts Receivable be immediately after the customer's payment? Summary of charges by user USER MONTHLY AND OTHER CHARGES (5) 75.00 ADO-ONS (5) USAGE CHARGES (5) TOTAL BEFORE TAXES (5) 75.00 TAXES (5) 9.75 TOTAL (5) 84.75 85.00 35.00 120.00 15.60 135.60 55.00 55.00 7.15 2.15 65.00 65.00 8. 45 7 3.45 Total $280.00 $35.00 $0.00 $315.00 $40.95 $355.95 CREDITS (5) 34.38 CURRENT BALANCE 378.12 END DATE Dec 24, 2018 Summary of Device Balance by user USER STARTING BALANCE 825.00 APPLE 17 128GB SILVER LTE ARTL 925.00 APPLE I7 128GB BLACK LTE ART. 825.00 APPLE I7 128GB ROSE GOLD LTE ARTIL 423.98 Dec 24, 2018 31.3 31.5 378.12 Dec 24, 2018 825.00 18 378.12 Dec 24, 2018 APPLE 17 128GB JET BLACK LTE ARTL On the top-right is information about how much the customer owes if they cancel the contract. On the bottom-right is the itemization of the current month's bill showing that the customer needs to pay $355.95. The cell service provider booked $3,400 as a DEBIT to Accounts Receivable and a credit to Revenue when the contract began. Ignore that cell phone services are typically billed in advance of the provision of service. Based on those facts, answer the following questions: What was the balance in Accounts Receivable immediately before this bill was sent? The customer purchased the phones on December 24, 2016. What month is it currently? When the company sends this bill, what entry should they record? How much Revenue? When the company receives the customer's payment, what entry should they record? What will the balance in Accounts Receivable be immediately after the customer's payment? Summary of charges by user USER MONTHLY AND OTHER CHARGES (5) 75.00 ADO-ONS (5) USAGE CHARGES (5) TOTAL BEFORE TAXES (5) 75.00 TAXES (5) 9.75 TOTAL (5) 84.75 85.00 35.00 120.00 15.60 135.60 55.00 55.00 7.15 2.15 65.00 65.00 8. 45 7 3.45 Total $280.00 $35.00 $0.00 $315.00 $40.95 $355.95

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