accounts receivable had a debit balance of $4,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as:

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19-12-2022
Business

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accounts receivable had a debit balance of $4,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as:

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akursharma9034 akursharma9034 · Answer 1 · 2022-12-25T01:45:11-05:00

Accounts receivable had a debit balance of $6,000 at the end of the period compared to a debit balance of $4,000 at the beginning of the period.

The adjustment to net income for the period, which is based on such information, will result in an increase of $4,000 to net income. More cash payments will need to be collected in the future as a result of an increase in an organization's accounts receivable balance, which shows that more money has been created through credit payments. On the other hand, if a company's A/R balance decreased, the sums billed to the customers who made credit payments were paid in cash. When the balance of accounts receivable increases more quickly than sales, the ratio falls. Changes to the company's credit policy and escalating problems with timely receivables collection are the main causes of a declining ratio.

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