Clearwater Marine has a 45 day accounts receivable period. The estimated quarterly sales for this year,...
Clearwater Marine has a 45 day accounts receivable period. The estimated quarterly sales for this year, starting with the first quarter, are $6,500, $7,000, $8,000, and $6,500, respectively. What is the accounts receivable balance at the beginning of the fourth quarter? Assume a year has 360 days.
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$3,400 |
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$4,000 |
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$6,950 |
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$7,100 |
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$7,650 |
Homework Answers
Accounts Receviable Begin Q4 = Accounts Receivable End Q3
= 8000*45/90
= 4000
The answer is b)$4,000
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Clearwater Marine has a 45 day accounts receivable period. The
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