Assume all of the companys sales are on account. The accounts receivable balance at the beginning of

Question:

Assume all of the company’s sales are on account. The accounts receivable balance at the beginning of the year was $512, and the ending balance was $481. During the year, the company had sales of $4,526. Compute the amount of cash collections on sales.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...