E7-4 (L02) (Determining Ending Accounts Receivable) Your accounts receivable clerk, Mitra Adams, to whom you pay a salary of $1,500 per month, has just purchased a new Acura. You decide to test the accuracy of the accounts receivable balance of $82,000 as shown in the ledger. The following information is available for your first year in business. (1) Collections from customers (2) Merchandise purchased (3) Ending merchandise inventory (4) Goods are marked to sell at 40% above cost $198,000 320,000 90,000 Instructions Compute an estimate of the ending balance of accounts receivable from customers that should appear in the ledger and any apparent shortages. Assume that all sales are made on account.

E7-4 (L02) (Determining Ending Accounts Receivable) Your accounts receivable clerk, Mitra Adams, to whom you pay a salary of $1,500 per month, has just purchased a new Acura. You decide to test the accuracy of the accounts receivable bulance of $82,000 as shown in the ledger. The following information is avallable for your first your in business. Instructions Compute an estimate of the ending balance of accounts receivable from castomers that should appoar in the hodger and any apparent shortages. Assume that all sales are made on account