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kiruha [24]
3 years ago
6

A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All sales are on credit. 30% is collected in

the month of the sale, and the remainder in the following month. What will be the balance in accounts receivable at the end of June
Business
1 answer:
8090 [49]3 years ago
8 0

Answer:

$3,500

Explanation:

Calculation to determine What will be the balance in accounts receivable at the end of June

Balance in accounts receivable =June Forecasted sales* (Remaining percentage-Percentage collected)

Let Plug in the formula

Balance in accounts receivable =$5,000*(100%-30%)

Balance in accounts receivable=$5,000*70%

Balance in accounts receivable=$3,500

Therefore the balance in accounts receivable at the end of June will be $3,500

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