Krenshaw Rentals a Multiple Choice 03-065 Visited, Not Yet Judged Is described b
ID: 2738472 • Letter: K
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Krenshaw Rentals a Multiple Choice 03-065 Visited, Not Yet Judged Is described below to answer the question(s) that follow(s). Oct1 Krenshaw purchases two new saws on credit at $375 each. The saws are added to Krenshaw's rental inventory. Payment is due in 30 days. 8 Krenshaw accepts advance deposits for tool rentals of $75. 15 Krenshaw receives a bill from Farmer's Electric Company for $150. Payment is due in 30 days. Customers are charged $750 by Krenshaw for tool rentals. Payment is due from the customers in 30 days. 20 31 Krenshaw receives $500 in payments from the customers that were billed for rentals on October 20. Refer to the transactions for Krenshaw Rentals. Based on the above transactions, how much is still owed to Krenshaw on October 31 from its customers? Casa O b. $250 Oc. $750 d. S500Explanation / Answer
Total billed=%750 and in whoch $500 is recieved at month end. so remaining is
Amount owed=750-500=$250
option A.A debit in Account receivable for $150. It is receivable for farmer electric and payable for krenshaw rental
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