What was the sales volume in the current quarter if beginning accounts receivable, at $5,000, was $1,000 higher than ending, and $20,000 was collected?

Question

Quizplus · Accepted Answer

We can use the formula:
Ending accounts receivable = Beginning accounts receivable + sales - collections
Substituting the given values, we get:
$4,000 = $5,000 + sales - $20,000
Simplifying the equation, we get:
sales = $19,000
Therefore, the sales volume in the current quarter was $19,000. Option A is the correct choice.

What Was the Sales Volume in the Current Quarter If