The balance in Accounts Receivable at the beginning of the year was $530,000.The balance in Accounts Receivable at the end of the year was $710,000.Customer accounts of $480,000 were written off.The company collected $4,100,000 from credit customers and $1,030,000 from cash customers.What are credit sales for the year?
A)$4,400,000
B)$4,100,000
C)$4,580,000
D)$4,760,000

Question

Quizplus · Accepted Answer

530,000 + x -480,000 - 4,100,000 = 710,000
x = 4,760,000

The Balance in Accounts Receivable at the Beginning of the Year