(Pro forma accounts receivable balance calculation?) The accounts receivable for Pastors Brewing Company on March ? 31, 2016 was $17,200. Firm sales are roughly evenly split between credit and cash? sales, with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given? here:
MONTH SALES MONTH SALES
January 15,000 March 23,000
February 19,000 April (projected) 27,000
a. Under these? circumstances, what should the balance in accounts receivable be at the end of? April?
b. How much cash did? Pastors' realize during April from sales and? collections?
a. Under these? circumstances, what should the balance in accounts receivable be at the end of? April? $ (Round to the nearest? dollar.) ANSWER:
b. How much cash did? Pastors' realize during April from sales and? collections? (Round to the nearest? dollar.)