(Pro forma accounts receivable balance calculation) The accounts receivable for Pastors Brewing Company on March 31, 2016 was $22,500. Firm sales are roughly evenly split between credit and cash sales with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here: end of April? a. Under these circumstances, what should the balance in accounts receivable be at b. How much cash did Pastors' realize during April from sales and collections? a. Under these ci $(Round to f t Data table MONTH January February SALES $20,000 $25,000 MONTH March O SALES $30,000 $34,000 April (projected) (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) D X

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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(Pro forma accounts receivable balance calculation) The accounts receivable for Pastors Brewing Company on March 31, 2016 was $22,500. Firm sales are roughly evenly split between credit and cash sales,
with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here:
end of April?
a. Under these circumstances, what should the balance in accounts receivable be at
b. How much cash did Pastors' realize during April from sales and collections?
a. Under these ci
$(Round to f
t
Data table
MONTH
January
February
SALES
$20,000
$25,000
MONTH
March
O
SALES
$30,000
$34,000
April (projected)
(Click on the icon located on the top-right corner of the data table above in order to copy its contents
into a spreadsheet.)
D
X
Transcribed Image Text:(Pro forma accounts receivable balance calculation) The accounts receivable for Pastors Brewing Company on March 31, 2016 was $22,500. Firm sales are roughly evenly split between credit and cash sales, with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here: end of April? a. Under these circumstances, what should the balance in accounts receivable be at b. How much cash did Pastors' realize during April from sales and collections? a. Under these ci $(Round to f t Data table MONTH January February SALES $20,000 $25,000 MONTH March O SALES $30,000 $34,000 April (projected) (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) D X
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