AAA Manufacturing, Inc. had an audited accounts receivable balance of $480,145 as of January 1, 2023....

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AAA Manufacturing, Inc. had an audited accounts receivable balance of $480,145 as of January 1, 2023. AAA Manufacturing uses a lockbox" to collect receipts from customers. A print out by the bank indicates 9,543,951 of receipts from customers during the year ending December 31, 2023. The balance for accounts receivable is $765,827 at December 31, 2023. What is your expectation for sales for the year? *Definition of lockbox - It involves directing customers to send their payments to a designated lockbox address where the bank collects and processes the payments on behalf of the business. AAA Manufacturing, Inc. had an audited accounts receivable balance of $480,145 as of January 1, 2023. AAA Manufacturing uses a lockbox" to collect receipts from customers. A print out by the bank indicates 9,543,951 of receipts from customers during the year ending December 31, 2023. The balance for accounts receivable is $765,827 at December 31, 2023. What is your expectation for sales for the year? *Definition of lockbox - It involves directing customers to send their payments to a designated lockbox address where the bank collects and processes the payments on behalf of the business.

Answer rating: 100% (QA)

To estimate the sales for the year for AAA Manufacturing Inc you want to look at the flow of account... View the full answer