T.J. Waxham's has a beginning receivables balance on January 1 of $1,460. Sales for January through April are $1,200, $1,450, $1,580, and $1,640, respectively. The accounts receivable period is 30 days. How much did the firm collect in the month of April? Assume that a year has 360 days.
A) $1,200
B) $1,450
C) $1,460
D) $1,580
E) $1,640
Correct Answer:
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