The Athletic Sports Store has a beginning receivables balance on January 1 of $410. Sales for January through April are $440, $460, $690, and $720, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of April? Assume a year has 360 days.
A) $410
B) $440
C) $460
D) $690
E) $720
Correct Answer:
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