Question

On April 30, Victor Services had an Accounts Receivable balance of $37,800. During the month of May, total credits to Accounts Receivable were $73,600 from customer payments. The May 31 Accounts Receivable balance was $31,000. What was the amount of credit sales during May?

Answer 1

The answer is $66,800

Step-by-step explanation:

Beginning accounts receivable balance ---$37,800

Ending accounts receivable balance -----$31,000

Total credits to Accounts Receivable------ $73,600

Credit sales = (Total credits to Accounts Receivable + Ending accounts receivable balance) - Beginning accounts receivable balance

($73,600 + $31,000) - $37,800

$104,600 - $37,800

= $66,800