14-2. (Pro forma Accounts receivable balance calculation) Jimmy's micro brewery is located in downtown Ruston , Louisiana in a restored section of the old Ford dealership. Jimmy sales his beer both to retail customers and also distributes his line of craft beers through M. L. Keith food distributors. Jimmy's wholesale distributor purchases his beer on credit which amounts to 50% of the brewery's total sales. Firm sales were roughly evenly split between credit and cash sales, with 25% of credit sales collected in the month after the sale and the remainder two months after the sale . Historical and projected sales for the Brewing Company are given here:

a) Under these circumstances, what should the balance in accounts receivable be at the end of April?

b) How much cash did Jimmie's realize during April from Sales and collections?

MONTH SALES MONTH SALES January $60,000 March $70,000 February $65,000 April (projected) $60,000 a. Under these circumstances, what should the balance in accounts receivable be at the end of April? b. How much cash did Jimmie's realize during April from sales and collections