Firm collect in the month of april, Finance Basics

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Firm collect in the month of april

Problem:

The Athletic Sports Store has a beginning receivables balance on January 1 of $530. Sales for January through April are $270, $300, $390 and $400, respectively. The accounts receivable period is 60 days.

Required:

How much did the firm collect in the month of April? Assume that a year has 360 days.

$490
$270
$300
$400
$390

Note: Provide support for your rationale.

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Finance Basics: Firm collect in the month of april

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Finance Basics: Firm collect in the month of april

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