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HM Industries has a beginning receivables balance on January 1 st of $484. Sales for January through April are $420, $364, $390, and $433, respectively.

HM Industries has a beginning receivables balance on January 1st of $484. Sales for January through April are $420, $364, $390, and $433, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of April? Assume a 360-day year.

Multiple Choice

  • $420

  • $364

  • $377

  • $390

  • $392

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