Question

Bravo Company had a beginning Accounts Receivable account balance of $380. During the period Bravo' sold goods on account for $1,400. Ending Accounts Receivable had a $630 balance. How much was collected on account during the period?

Answer 1

Answer:

During the period was collected $1.150

Explanation:

To calculate the total amount collected must be considered the initial balance of the Accounts Receivable then add the goods sold on account and finally must be deducted the final balance of the Accounts Receivable, that difference is the total amount collected in the period by the company.

Please see details bellow:

$380  Initial account balance

$1400 goods sold

($1.150) Collected Amount

$630 ending balance