Your accounts receivable clerk, Mitra Adams, to whom you pay a salary of $2,655 per month, has just purchased a new Acura. You decided to test the accuracy of the accounts receivable balance of $207,090 as shown in the ledger. The following information is available for your first year in business. (1) Collections from customers $350,460 (2) Merchandise purchased 566,400 (3) Ending merchandise inventory 123,900 (4) Goods are marked to sell at 40% above cost Compute an estimate of the ending balance of accounts receivable from customers that should appear in the ledger and any apparent shortages. Assume that all sales are made on account. The ending balance of accounts receivable from customers$
Apparent shortage $