Answer:
Accounts receivable for 2019 = $590,000
Accounts receivable for 2018 = $570,000
Explanation:
The computation of accounts receivable for both years is shown below:-
2019 2018
Sales $7,906,000 $6,726,000
Accounts receivable
Beginning balance $600,000 $540,000
Ending balance $580,000 $600,000
Accounts receivable $590,000 $570,000
Working note:-
Average Accounts receivable for 2019 = ($600,000 + $580,000) ÷ 2
= $590,000
Average Accounts receivable for 2018 = ($540,000 + $600,000) ÷ 2
= $570,000
