Homework SourseThe Athletic Sports Store has a beginning receivables balanc
The Athletic Sports Store has a beginning receivables balance on January 1 of $530. Sales for January through April are $270, $300, $390 and $400, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of April? Assume that a year has 360 days.
| $490 | |
| $270 | |
| $300 | |
| $400 | |
| $390 |
Solution
April collections = February sales = $300
