HM Industries Has a Beginning Receivables Balance on January 1^st

question 28

Multiple Choice

HM Industries has a beginning receivables balance on January 1^st of $484.Sales for January through April are $420,$364,$390,and $433,respectively.The accounts receivable period is 60 days.How much did the firm collect in the month of April? Assume a 360-day year.

• A)$420
• B)$364
• C)$377
• D)$390
• E)$392

---

Definitions:

ATM Card

An ATM card is a plastic card issued by a bank or financial institution, enabling the cardholder to deposit, withdraw, or transfer funds through an Automated Teller Machine.

Notify

To inform or give notice to someone about specific information or an event.

Forgery

The process of making, adapting, or imitating objects, statistics, or documents with the intent to deceive.

Bank Statement

A document or electronic record issued by a bank detailing the transactions in a customer's account over a specific period.