Answer:
The projected accounts receivable balance for 2017 is $12,650.55 million
Explanation:
For computing the projected accounts receivable, first, we have to compute the percentage of accounts receivable with sales which equal to
= Accounts receivable ÷ sales × 100
= $12,164 million ÷ $177,526 million × 100
= 6.85195%
Now, multiply this percentage with the increased sales
The increase in sales is = Sales + (Sales × 4%)
= $177,526 million + ($177,526 million × 4%)
= $177,526 million + $7,101.04
= $184627.04 million
So, the projected account receivable equals to
= $184627.04 million × 6.85195%
= $12,650.55 million
