Ask Question
4 November, 14:19

Sweet Acacia Industries had a beginning balance in accounts receivable of $75,360 and an ending balance of $91,160. Credit sales during the period were $645,360. Determine cash collections.

+4
Answers (1)
  1. 4 November, 14:34
    0
    Cash collections = $629560

    Explanation:

    given data

    beginning balance = $75,360

    ending balance = $91,160

    Credit sales = $645,360

    to find out

    Determine cash collections

    solution

    we get here Cash collections as

    Cash collections = Opening balance - Closing balance + credit sales ... 1

    put here value we get

    Cash collections = $75,360 - $91,160 + $645,360

    Cash collections = $629560
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Sweet Acacia Industries had a beginning balance in accounts receivable of $75,360 and an ending balance of $91,160. Credit sales during the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers