"3. ERA Company’s controller accidentally erased the 3/1/20 balance for the Accounts Receivable account. However, she can see that the 3/31/20 Accounts Receivable balance is $500,000, the company provided services worth $1,500,000 on account during March 2020, and collected $1,800,000 cash related to accounts receivable during March 2020. What was the 3/1/20 Accounts Receivable balance?"

The multiple choices are:

a.300,000

b.$400,000

c.$800,000

d.$1,300,000

The correct option is C,$800,000

Explanation:

Opening accounts receivable=closing receivables+cash received-credit sales

closing receivables is $500,000

cash received during the month was $1,800,000

credit sales during the month was $1,500,000

Opening accounts receivable =$500,000+$1,800,000-$1,500,000

opening accounts receivable balance =$800,000

This is more like working backwards,as closing closing receivables formula is ;

closing receivables=opening receivable+credit sales-cash received

simply change the subject to opening receivables

opening receivables=cash received+closing receivables-credit sales

answer: heh

explanation:

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough