The Net Accounts Receivable for Andante Company Were $150,000 at the Beginning

question 53

Multiple Choice

The net accounts receivable for Andante Company were $150,000 at the beginning of the most recent year and $190,000 at the end of the year.If the accounts receivable turnover for the year was 8.5,and 15% of total sales were cash sales,what were the total sales for the year?

• A) $1,445,000.
• B) $1,500,000.
• C) $1,700,000.
• D) $1,900,000.Sales = 1,445,000/(1 - .15)= $1,700,000.

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Definitions:

An American Dilemma

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A Swedish economist and sociologist, known for his influential study on race relations in the United States titled "An American Dilemma" (1944).

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