Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Hugo was completing his end-of-day balance sheet for his music store. He wanted to make sure his projections were correct and confirm the business was on track financially. What is one entry he would make on his balance sheet?


A. Gross profit

B. Cost of goods sold

C. Accounts receivable

D. Net profit before taxes

Sagot :

Tundexi

As Hugo wanted to make sure his projections were correct and confirm the business was on track financially, an entry which he can make on his balance sheet is an Accounts receivable. The Option C is correct.

What is an account receivable?

In accounting, an accounts receivable refers to an asset account on the balance sheet that represents money due to a company in the short term. They are created when a company lets a buyer purchase their goods or services on credit and it is similar to accounts payable but instead of money to be received, they are money owed.

An account receivable are always recorded as a debit in the assets section of a balance sheet. It is a short-term asset because normally it's going to be realized within a year.

Read more about account receivable

brainly.com/question/24848903

#SPJ1

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.