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6 December, 04:28

On December 31, 2016, Alsfeld Company had a $122,550 balance in Accounts Receivable. During the year 2017, the company collected $200,000 from its credit customers. The December 31, 2017 balance of the Accounts Receivable was $170,650.

Determine the amount of sales on accounts for 2017.

what is the right answer?

A. $156,000

B. $248,100

C. $253,100

D. $156,900

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Answers (1)
  1. 6 December, 04:55
    0
    B. $248,100

    Explanation:

    We post how the ending accounts receivable is solve for:

    Begining AR 122,550

    Sales on Account X

    Collected (200,000)

    Ending 170,650

    And now, we work the equation to get sales on accounts:

    Sales on account = ending + collected - beginning AR

    sales = 170,650 + 200,000 - 122,550 =
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