Question: Question 34 5 points Save Answer Nancy's Products Ltd is trying to forecast Accounts Receivable. On Jan 1, 2016 it has $1000 in Accounts Receivable

Question 34 5 points Save Answer Nancy's Products Ltd is trying

Question 34 5 points Save Answer Nancy's Products Ltd is trying to forecast Accounts Receivable. On Jan 1, 2016 it has $1000 in Accounts Receivable On average, 20% of sales are collected at the time of sale and 80% are collected the following month Determine the month ending balance for Accounts Receivable for Jan Feb and Mar if payments received in December are $1500 Sales for Dec, Jan Feb and Mar are $2800 $2800 $2000 and $3800 respectively Show all your work

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