The cash collections from accounts receivable in November are
A)$305,200.
B)$294,000.
C)$235,200.
D)$381,500.

Question

Quizplus · Accepted Answer

The cash collections from accounts receivable can be calculated as follows:
Beginning Accounts Receivable + Credit Sales during November - Ending Accounts Receivable = Cash Collections
Assuming no credit sales are collected on the same day,
Beginning Accounts Receivable = $66,000
Credit Sales during November = $316,000
Ending Accounts Receivable = $77,800
Therefore, Cash Collections = $305,200 (Option A).

The Cash Collections from Accounts Receivable in November Are