Question
Chairs & More Company sold office furniture to Go Green, Inc. on September 1, 2013. The sales price of the furniture was $20,300. The cost
Chairs & More Company sold office furniture to Go Green, Inc. on September 1, 2013. The sales price of the furniture was $20,300. The cost of the furniture to Chairs & More was $12,900. Go Green, Inc. will make payments of $2,900 each month for the next seven months. Due to the extremely high uncertainty related to the ultimate collectability of cash, Chairs & More uses the installment method. What amount will Chairs & More report in its balance sheet for the net receivable on December 31, 2013? (Round percentages to the nearest whole amount. Round your answer to the nearest dollar amount.)
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