Practice question · Estimate
A firm makes credit sales of 50,000 in Q1. Customers pay 35,000 by quarter-end. Estimate the Accounts Receivable balance at quarter-end.
Estimate on a scale from 0 to 50,000 (50000).
Hints
- Receivables = sales on credit minus collections.
- .
Show the answer
15000 (answers within ±1000 count)
Why
still outstanding. The receivable is the gap between accrual revenue (all 50k) and cash collected (35k).
Practise Recording Transactions
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