The balance in the Accounts Receivable account decreased from $18,000 at the beginning of the month to $15,000 at the end of the month. Sales on account during the month totaled $130,000. No accounts receivable were written off as uncollectible during the month. Cash collections of accounts receivable during the month totaled:

a. 127,000
b. 130,000
c. 133,000
d. 145,000

Question

23-03-2020
Business

contestada

The balance in the Accounts Receivable account decreased from $18,000 at the beginning of the month to $15,000 at the end of the month. Sales on account during the month totaled $130,000. No accounts receivable were written off as uncollectible during the month. Cash collections of accounts receivable during the month totaled:

a. 127,000
b. 130,000
c. 133,000
d. 145,000

Respuesta :

Otras preguntas

Angles ABC and DBE are vertical angles where m∠ABC = (7x + 7)° and m∠DBE = (8x − 4)°. Part A: Solve for x. Show every step of your work. Part B: Are the vertic

step by step explanation long divison 9 divided by 1557

Solving a value mixture problem using a system of linear... Two mechanics worked on a car. The first mechanic worked for 5 hours, and the second mechanic worked

4. What situations can you think of that force or encourage people to give up parts of their identity? Explain

On the way to the mall Miguel rides his skateboard to get to the bus stop. He then waits a few minutes for the bus to come, then rides the bus to the mall. He g

A student observed several amebas with a microscope as seen in the photograph.The student measured the diameter of the field to be 1,500 microns (micrometers).

According to a 2017 Wired magazine article, 40% of emails that are received are tracked using software that can tell the email sender when, where, and on what t

The first great awakening in the America colonies

6 Equations of parallel and perpendicular lines VEB The equation for line u can be written as y = -x + 1. Line v, which is perpendicular to line u, includes the

enzymes: group of answer choices are composed primarily of polypeptides, which are polymers of amino acids. can bind prosthetic groups such as metal ions that p

ladeitan ladeitan · Answer 1 · 2020-03-26T03:23:45+01:00

Answer: The answer is c. 133,000.

Explanation: Accounts receivable is a current asset in the balance sheet (statement of financial position). Meaning, it easily can be converted to cash. The amount schedule of account receivable usually looks like this:

Opening balance $18,000

+Addition 130,000

-Receipt (cash) X

=Closing balance $15,000

To find X, simply change the subject of the formula as:

$18,000 + $130,000 - X = $15,000

$148,000 - X = $15,000

X = $148,000 - $15,000

X = $133,000 Receipt (cash)