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4. XYZ Corporation had the following sales for its second quarter: April $30,000 May $45,000 June $70,000 35% of sales are collected in the month
4. XYZ Corporation had the following sales for its second quarter: April $30,000 May $45,000 June $70,000 35% of sales are collected in the month of sale, 60% in the following month, and 5% is uncollectible. What is XYZ's ending balance in accounts receivable for the second quarter? A.$53,00 30,000 x 60=18000 450001.35- 15750 B. $44,250 C. $51,500 D. $42,000
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
