Determine the balance in Accounts Receivable at 2/28. Total Accounts Receivable

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....
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The following are selected transactions of Sandhill during February, The Store sells seasonal holiday items.
2/3
2/8
2/10
2/14
2/28
2/28
Sold 58 heart balloons for $5 cash each.
Sold 90 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period.
Sold 53 heart necklaces for $22 each with no discount. Have not collected as of month-end.
Sold 160 bouquets of roses at $32 per bouquet. Half the sales were on account. By month-end, 75% of the credit sales
were collected.
Sold 29 leftover heart necklaces to a discount store for $18 each on credit.
Provided a loan to the company president for $230,
Determine the balance in Accounts Receivable at 2/28.
Total Accounts Receivable.
3228
Transcribed Image Text:The following are selected transactions of Sandhill during February, The Store sells seasonal holiday items. 2/3 2/8 2/10 2/14 2/28 2/28 Sold 58 heart balloons for $5 cash each. Sold 90 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period. Sold 53 heart necklaces for $22 each with no discount. Have not collected as of month-end. Sold 160 bouquets of roses at $32 per bouquet. Half the sales were on account. By month-end, 75% of the credit sales were collected. Sold 29 leftover heart necklaces to a discount store for $18 each on credit. Provided a loan to the company president for $230, Determine the balance in Accounts Receivable at 2/28. Total Accounts Receivable. 3228
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