Lakeshore Apparel Co. is preparing its financial forecast for the upcoming year and has provided the following information: Receivable Days Assumption = 48 days Payable Days Assumption = 60 days (not needed for this question) Forecasted Revenue = $325,000 Forecasted Cost of Goods Sold (COGS) = $142,000 Forecast the accounts receivable balance using the receivable day's assumption.

Lakeshore Apparel Co. is preparing its financial forecast for the upcoming year and has provided the following information: Receivable Days Assumption = 48 days Payable Days Assumption = 60 days (not needed for this question) Forecasted Revenue = $325,000 Forecasted Cost of Goods Sold (COGS) = $142,000 Forecast the accounts receivable balance using the receivable day's assumption.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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