XYZ Corp sells widgets to consumers for $20 each. Its beginning accounts receivable balance was $24,975, and

Question:

XYZ Corp sells widgets to consumers for $20 each. Its beginning balance was $24,975, and it sold 12,376 widgets throughout the year. The total cash collections for the year amounted to $217,750.
Required:
Calculate the ending balance?
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...