At December 1, 2022, Sheffield Corp. Accounts Receivable balance was $17810. During December, Sheffield had credit sales of $47700 and collected accounts receivable of $38160. At December 31, 2022, the Accounts Receivable balance is

The correct answer is $27,350.

Explanation:

According to the scenario, the given data are as follows:

Opening account receivable balance = $17,810

Credit sales = $47,700

Amount collected = $38,160

So, we can calculate the closing accounts receivable balance by using following formula:

Closing Accounts receivable = Opening account receivable + Credit sale - Amount collected

By putting the value, we get

= $17,810 + $47,700 - $38,160

= $27,350

Hence, the closing accounts receivable balance is $27,350.