The Balance in Accounts Receivable at the Beginning of the Year

question 163

Multiple Choice

The balance in Accounts Receivable at the beginning of the year was $500,000.The balance in Accounts Receivable at the end of the year was $700,000.Customer accounts of $400,000 were written off.The company collected $4,000,000 from credit customers and $1,000,000 from cash customers.What are credit sales for the year?

• A)$400,000
• B)$4,000,000
• C)$4,400,000
• D)$4,600,000