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23. (3 points) The following information pertains to R: Gross accounts receivable balance as of 12-31-14 was $879,000 Allowance for doubtful accounts balance as
23. (3 points) The following information pertains to R: Gross accounts receivable balance as of 12-31-14 was $879,000 Allowance for doubtful accounts balance as of 12-31-14 was $48,000 Total sales during 2015 were $3,800,000; 85% of sales were on a credit basis. AR write-offs during 2015 were $41,000 R's 12-31-15 AR aging analysis indicates a required balance in the allowance for doubtful accounts of $70,000. The NRV of R's receivables as of 12-31-15 was $903,000. Based on the above: a. How much cash did R collect from its ARs during 2015? b. How much cash did R collect from its sales during 2015?
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