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Plant Mart has a beginning receivables balance on February 1 of $965. Sales for February through May are $510, $580, $820, and $1,450, respectively. The The accounts receivable period is 30 days. What is the amount of the April collections? Assume a year has 360 days. a. $510 b. $580 c. $820 d. $545 e. $700

Plant Mart has a beginning receivables balance on February 1 of $965. Sales for February through May are $510, $580, $820, and $1,450, respectively. The The accounts receivable period is 30 days. What is the amount of the April collections? Assume a year has 360 days. a. $510 b. $580 c. $820 d. $545 e. $700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Plant Mart has a beginning receivables balance on February 1 of $965. Sales for February through May are $510, $580, $820, and $1,450, respectively. The The accounts receivable period is 30 days. What is the amount of the April collections? Assume a year has 360 days. a. $510 b. $580 c. $820 d. $545 e. $700
Transcribed Image Text:Plant Mart has a beginning receivables balance on February 1 of $965. Sales for February through May are $510, $580, $820, and $1,450, respectively. The The accounts receivable period is 30 days. What is the amount of the April collections? Assume a year has 360 days. a. $510 b. $580 c. $820 d. $545 e. $700
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