Question

At december 1, 2017, novak corp. accounts receivable balance was $20500. during december, novak had credit sales of $54900 and collected accounts receivable of $43920. at december 31, 2017, the accounts receivable balance is

Answer 1

Answer:

$78320

Explanation:

Given That:

Opening Balance of Accounts Receivable as on Dec 1, 2017 = $20500

Credit Sales Made during the month =     $54900

Collection from Accounts Receivables during the month = $ 43920

Closing Balance of Accounts Receivables as on Dec 31, 2017 = Credit Sales made during the month + Amount collected from Accounts receivables - Opening balance of accounts receivables  

Closing Balance = 54900 + 43920 - 20500

Closing Balance = $78320