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At June 1, 2016 cooper company had an account receivable balance of 14,000 during the month the company performed credit services of 35,000 and collected accounts receivable of 23000. What is the balance in accounts receivable at June 30 2016.
Expert Answer
Closing balance of accounts receivable
= Opening balance + Credit Sales – Collections
= $14,000 + $35,000 – $23,000
= $26,000
