The Boat Works started the month with $1.28 million in accounts receivable.Sales for the month were $3.4 million.The firm collects 35% of its sales in the month of sale with the remainder paid the following month.What is the accounts receivable balance at month end?
A) $2.21 million
B) $1.19 million
C) $3.49 million
D) $2.71 million
Correct Answer:
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