At the beginning of January of the current year, Sorrel Co.’s ledger reflected a normal balance of $70,000 for accounts receivable. During January, the company collected $18,400 from customers on account and provided additional services to customers on account totaling $14,300. Additionally, during January one customer paid Mikey $6,800 for services to be provided in the future.
Required:
a. At the end of January, the balance in the accounts receivable account should be .

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.