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At June 1, 2022, Sheffield Corp. had an Accounts Receivable balance of $ 18,900. During the month, the company had credit sales of $

24,500 and collected Accounts Receivable of $ 28,500. What is the balance in Accounts Receivable at June 30, 2022?

Sagot :

abiolataiwo2015

If at June 1, 2022, Sheffield Corp. had an Accounts Receivable balance of $ 18,900. During the month, the company had credit sales of $

24,500 and collected Accounts Receivable of $ 28,500. The balance in Accounts Receivable at June 30, 2022 will be: $14,900

Using this formula

2022 Balance in Accounts Receivable=Accounts Receivable balance as on June 1, 2022+ Credit sales  -Collected Accounts Receivable

Let plug in the formula

2022 Balance in Accounts Receivable=$18,900+$24,500-$28,500

2022 Balance in Accounts Receivable=$14,900

Inconclusion if at June 1, 2022, Sheffield Corp. had an Accounts Receivable balance of $ 18,900. During the month, the company had credit sales of $

24,500 and collected Accounts Receivable of $ 28,500. The balance in Accounts Receivable at June 30, 2022 will be: $14,900

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