On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The...

90.2K

Verified Solution

Question

Accounting

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

Transactions

  1. Shawn Dahl invested $44,000 in cash to open the business
  2. Paid $11,700 in cash for the purchase of kayak and canoe equipment
  3. Paid $2,050 in cash for rent expense
  4. Purchased additional kayak and canoe equipment for $4,800 on credit
  5. Received $4,900 in cash for kayak rentals
  6. Rented canoes and kayaks for $2,200 on account
  7. Purchased office equipment for $225 in cash
  8. Received $1,300 in cash from credit clients
  9. Shawn Dahl withdrew $2,500 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?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students