The Green Mile has the following estimated quarterly sales for next year. The accounts receivable period is 45 days.What is the expected accounts receivable balance at the end of the third quarter? Assume each month has 30 days.

Question

The Green Mile has the following estimated quarterly sales for next year.  The accounts receivable period is 45 days.What is the expected accounts receivable balance at the end of the third quarter? Assume each month has 30 days.

Quizplus · Accepted Answer

Q₃ accounts receivable balance = (45/90) × $9,500 = $4,750

The Green Mile Has the Following Estimated Quarterly Sales for Next