Please need help Plant Mart has a beginning receivablesbalance on February 1 of $965. Sales forFebruary through May are $510, $580, $820,and $1,450, respectively. TheThe accountsreceivable period is 30 days. What is theamount of the April collections? Assume ayear has 360 days.a. $510b. $580c. $820d. $545e. $700

Given Data:Beginning Receivables Balance (Feb 1): $965 (These are sales made before February and…

Answered: Plant Mart has a beginning receivables…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PA: Fitbands estimated sales are: What are the balances in accounts receivable for January, February,...

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Fitbands' estimated sales are: Ot. $131,973 Nov. 195,705 Dec. 249,291 Jan 124,298 Feb. 124,306 Mar. 124,365 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March
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