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9 December, 23:12

On December 31, 2016, Alsfeld Company had a $122,550 balance in Accounts Receivable. During the year 2017, the company collected $200,000 from its credit customers. The December 31, 2017 balance of the Accounts Receivable was $170,650.

Determine the amount of sales on accounts for 2017.

what is the right answer?

A. $156,000

B. $248,100

C. $253,100

D. $156,900

+3
Answers (2)
  1. 10 December, 00:47
    0
    B. $248,100

    Explanation:

    We post how the ending accounts receivable is solve for:

    Begining AR 122,550

    Sales on Account X

    Collected (200,000)

    Ending 170,650

    And now, we work the equation to get sales on accounts:

    Sales on account = ending + collected - beginning AR

    sales = 170,650 + 200,000 - 122,550 =
  2. 10 December, 01:05
    0
    B. $ 248,100 is the sales on account

    Explanation:

    The Receivables movement is determined as follows:

    Opening receivables + Net Sales - Collections = Closing balance

    We solve this equation so that

    Net sales = Closing balance + collections - opening balance

    Net sales = $ 170,650 + $ 200,000 - $ 122,550

    Net sales = $ 248,100
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Home » Business » On December 31, 2016, Alsfeld Company had a $122,550 balance in Accounts Receivable. During the year 2017, the company collected $200,000 from its credit customers. The December 31, 2017 balance of the Accounts Receivable was $170,650.
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