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16.(3 points) The following information pertains to R: Gross accounts receivable balance as of 01-01-15 was $75,000 Allowance for doubtful accounts balance as of 01-01-15
16.(3 points) The following information pertains to R:
Gross accounts receivable balance as of 01-01-15 was $75,000
Allowance for doubtful accounts balance as of 01-01-15 was $4,000
Total sales during 2015 (all sales were on a credit basis) were $870,000
AR write-offs during 2015 were $3,000
R's 12-31-15 AR aging analysis indicates a required balance in the allowance for doubtful accounts of $4,750.
The NRV of R's receivables as of 12-31-15 was $90,000.
On the basis of the above, how much cash did R collect from its ARs during 2015?
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