A firm has forecasted sales $3,000, in April $4,500 in May and $6,500 in June. All sales are on credit 30% is collected the month of sale and the reminder the following month. What will be balance in account receivable at the beginning of the July? a. $1,950 b. $6,500 c. $4,550 d. $5,100

A firm has forecasted sales $3,000, in April $4,500 in May and $6,500 in June. All sales are on credit 30% is collected the month of sale and the reminder the following month. What will be balance in account receivable at the beginning of the July? a. $1,950 b. $6,500 c. $4,550 d. $5,100

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Give true answer the accounting question

A firm has forecasted sales $3,000, in April $4,500 in May and
$6,500 in June. All sales are on credit 30% is collected the
month of sale and the reminder the following month. What
will be balance in account receivable at the beginning of the
July?
a. $1,950
b. $6,500
c. $4,550
d. $5,100

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