Calculation of accounts receivable balance
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If the actual December 31st A/R balance was $12,000; projected sales in March are $50,000; 70% of sales are on credit; 60% of credit sales are collected in the month of sale and 40% are collected in the month after the sales, what is the projected accounts receivable balance on the pro forma balance sheet for the end of March?
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Response provides guidance for calculation of accounts receivable balance for pro forma statement.
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If the actual December 31st A/R balance was $12,000; projected sales in March are $50,000; 70% of sales are on ...
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