On November 30,a company had an Accounts Receivable balance of $5,100.During the month of December,total credits to Accounts Receivable were $76,000 from customer payments.The 31 Accounts Receivable balance was $43,000 on December 31.What was the amount of credit sales during December?
A)$8,100
B)$27,900
C)$70,900
D)$76,000
E)$113,900

Question

Quizplus · Accepted Answer

The formula to find credit sales is: Ending Balance = Beginning Balance + Credit Sales - Payments. Rearranging gives Credit Sales = Ending Balance - Beginning Balance + Payments. So, $43,000 - $5,100 + $76,000 = $113,900.

On November 30,a Company Had an Accounts Receivable Balance of $5,100.During