Answer:
$ 3,115,000
Explanation:
Calculation for Kew Company’s cash receipts from sales in 2017
Beginning accounts receivable balance $ 400,000
Add Total credit sales $ 3,000,000
Total accounts receivable $ 3,400,000
Less: Ending accounts receivable balance $ 485,000
Cash received from receivables $ 2,915,000
Add Cash sales 200,000
Cash receipts from sales $ 3,115,000
Therefore Kew Company’s cash receipts from sales in 2017 will be $ 3,115,000
