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17 May, 02:48

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.

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  1. 17 May, 05:09
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    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
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