A firm has forecasted sales of $4,500 in April, $3,000 in May and $5,000 in June. All sales are on credit. 30% is collected the month of sale and the remainder the following month. What will be the balance in accounts receivable at the beginning of July?
A) $1,950
B) $6,500
C) $4,550
D) $3,500

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The Answer of A firm has forecasted sales of $4,500 in April, $3,000 in May and $5,000 in June. All sales are on credit. 30% is collected the month of sale and the remainder the following month. What will be the balance in accounts receivable at the beginning of July?
A) $1,950
B) $6,500
C) $4,550
D) $3,500

A Firm Has Forecasted Sales of $4,500 in April, $3,000