Question
20. (2 points) The following information pertains to R: Gross accounts receivable balance as of 01-01-20 was $70,000 Allowance for doubtful accounts balance as
20. (2 points) The following information pertains to R: Gross accounts receivable balance as of 01-01-20 was $70,000 Allowance for doubtful accounts balance as of 01-01-20 was $5,000 Total sales during 2020 (all sales were on a credit basis) were $720,000 AR write-offs during 2020 were $3,800 R's 12-31-20 AR aging analysis indicates a required balance in the allowance for doubtful accounts of $4,925. The NRV of R's receivables as of 12-31-20 was $92,000. On the basis of the above, how much cash did R collect from its ARs during 2020?
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