SAP, Inc Has a Beginning Receivables Balance on January 1 of of $390

question 213

Multiple Choice

SAP, Inc. has a beginning receivables balance on January 1 of $390. Sales for January through April are $520, $580, $640, and $540, respectively. The accounts receivable period is 30 days. How much did the firm collect in the month of February? Assume that a year has 360 days.

• A) $520
• B) $540
• C) $560
• D) $580
• E) $640

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