NM Company deals with exotic fruits and vegetables. The average receivable was $9,300 in 2021. The total revenue/sales for the year 2021 amounted to $79,350. The value of sales for the year 2022 is forecasted to be $82,000. The average collection period remains the same as that of the year 2021. The company uses the average turnover rate to forecast the accounts receivables for the year ending 2022. What will be the forecasted accounts receivables for the year ending 2022? (Round off intermediate calculations to two decimal places and final answer to the nearest value). Choose an answer A The forecasted accounts receivables for the year ending 2022 amount to $9,613. B The forecasted accounts receivable for the year ending 2022 amounts to $6,522. C The forecasted accounts receivable for the year ending 2022 amount to $9,300. D The accounts receivable for the year ending 2022 cannot be forecasted.

NM Company deals with exotic fruits and vegetables. The average receivable was $9,300 in 2021. The total revenue/sales for the year 2021 amounted to $79,350. The value of sales for the year 2022 is forecasted to be $82,000. The average collection period remains the same as that of the year 2021. The company uses the average turnover rate to forecast the accounts receivables for the year ending 2022. What will be the forecasted accounts receivables for the year ending 2022? (Round off intermediate calculations to two decimal places and final answer to the nearest value). Choose an answer A The forecasted accounts receivables for the year ending 2022 amount to $9,613. B The forecasted accounts receivable for the year ending 2022 amounts to $6,522. C The forecasted accounts receivable for the year ending 2022 amount to $9,300. D The accounts receivable for the year ending 2022 cannot be forecasted.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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