The Accounts Receivable account has a beginning balance of $48900 and an ending balance of $69600. If total sales on account were $39500 for the year, what were the total collections on account? O $69600 $79000 O $18800 O $60200

The Accounts Receivable account has a beginning balance of $48900 and an ending balance of $69600. If total sales on account were $39500 for the year, what were the total collections on account? O $69600 $79000 O $18800 O $60200

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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The Accounts Receivable account has a beginning balance of $48900 and an ending balance of $69600. If total sales on account were
$39500 for the year, what were the total collections on account?
$69600
O $79000
O $18800
O $60200
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