During its first year of operations,Widgets Incorporated reported Sales Revenue of $386,000 but collected only $303,000 from customers.At the end of the year,Accounts Receivable equal:

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Accounts Receivable represents the amount that a company expects to receive from its customers for the credit sales that it has made. In this case, the company reported sales revenue of $386,000 but collected only $303,000 during the year. This means that the company has $83,000 worth of credit sales that it has not yet collected. Therefore, the Accounts Receivable at the end of the year equals $83,000.

During Its First Year of Operations,Widgets Incorporated Reported Sales Revenue