Kennedy's has the following estimated quarterly sales for next year. The accounts receivable period is 70 days.What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days.

Question

Kennedy's has the following estimated quarterly sales for next year.  The accounts receivable period is 70 days.What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days.

Quizplus · Accepted Answer

Q₂ accounts receivable balance = (70/90) × $13,200 = $10,267

Kennedy's Has the Following Estimated Quarterly Sales for Next Year