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During 2022 Swifty Corporation had sales on account of $561000, cash sales of $244000, and collections on account of $345000. In addition, they collected $6800 which had been written off as uncollectible
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21 votes
During 2022 Swifty Corporation had sales on account of $561000, cash sales of $244000, and collections on account of $345000. In addition, they collected $6800 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable balance from the beginning of the year to the end of the year indicates a

User Robert Jeppesen
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12 votes
12 votes

As a result of these transactions the change in the accounts receivable balance from the beginning of the year to the end of the year indicates a:$216,000.

Change in account receivable balance

Using this formula

Change in account receivable=Sales onaccount-Collection on account

Let plug in the formula

Change in account receivable=$561000 - $345,000

Change in account receivable= $216,000

Inconclusion the change in the accounts receivable balance from the beginning of the year to the end of the year indicates a:$216,000.

Learn more about change in the accounts receivable here:

User Tyese
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