Use the five transactions below for Hennigan Rentals to answer the questions that follow. Dec. 1 Hennigan purchases two new saws on credit at $375 each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days. 8 Hennigan accepts advance deposits for tool rentals of $75. 15 Hennigan receives a bill from Farmer's Electric Company for $150. Payment is due in 30 days. 20 Customers are charged $750 by Hennigan for tool rentals. Payment is due from the customers in 30 days. 31 Hennigan receives $500 in payments from the customers that were billed for rentals on December 20. Refer to the transactions for Hennigan Rentals. Based on the above transactions, how much is still owed to Hennigan on December 31 from its customers? a.$500 b.$750 c.$250 d.$0. Please answer properly
Use the five transactions below for Hennigan Rentals to answer the questions that follow. Dec. 1 Hennigan purchases two new saws on credit at $375 each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days. 8 Hennigan accepts advance deposits for tool rentals of $75. 15 Hennigan receives a bill from Farmer's Electric Company for $150. Payment is due in 30 days. 20 Customers are charged $750 by Hennigan for tool rentals. Payment is due from the customers in 30 days. 31 Hennigan receives $500 in payments from the customers that were billed for rentals on December 20. Refer to the transactions for Hennigan Rentals. Based on the above transactions, how much is still owed to Hennigan on December 31 from its customers? a.$500 b.$750 c.$250 d.$0. Please answer properly
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 12EA: Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank...
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Use the five transactions below for Hennigan Rentals to answer the questions that follow.
| Dec. 1 | Hennigan purchases two new saws on credit at $375 each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days. | |
| 8 | Hennigan accepts advance deposits for tool rentals of $75. | |
| 15 | Hennigan receives a bill from Farmer's Electric Company for $150. Payment is due in 30 days. | |
| 20 | Customers are charged $750 by Hennigan for tool rentals. Payment is due from the customers in 30 days. | |
| 31 | Hennigan receives $500 in payments from the customers that were billed for rentals on December 20. |
Refer to the transactions for Hennigan Rentals.
Based on the above transactions, how much is still owed to Hennigan on December 31 from its customers?
a.$500
b.$750
c.$250
d.$0. Please answer properly
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