The Piante Company Has an Accounts Receivable Balance of $256,000

question 7

Multiple Choice

The Piante Company has an accounts receivable balance of $256,000 at the beginning of the year.Credit sales for the year are projected at $923,000.Management estimates that 98% of the beginning accounts receivable plus 82% of the credit sales will be collected during the period.The projected balance of accounts receivable at year-end equal to:

• A)$161,020
• B)$166,140
• C)$171,260
• D)$256,000