Explore BrainMass

Explore BrainMass

    Collections from Accounts Receivable

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A firm has forecasted sales of $4,000 in January, $6,000 in February and $5,500 in March. All sales are on credit. 40% is collected the month of sale and the remainder the following month. How much is collected from accounts receivable in February?
    A) $5,400
    B) $4,000
    C) $6,000
    D) $3,000

    © BrainMass Inc. brainmass.com June 3, 2020, 8:07 pm ad1c9bdddf
    https://brainmass.com/business/auditing/collections-from-accounts-receivable-124078

    Solution Summary

    The solution calculates amount collected from accounts receivable.

    $2.19

    ADVERTISEMENT