The following information is available for Reigen Company relating to 2019 operations: Accounts Receivable, January 1 4,000,000 Accounts receivable collected 8,400,000 Cash sales 2,000,000 Inventory, Jan. 1 4,800,000 Inventory, Dec. 31 4,400,000 Purchases 8,000,000 Gross Margin on Sales 4,200,000 What is the balance of accounts receivable on December 31, 2019?
The following information is available for Reigen Company relating to 2019 operations:
Accounts Receivable, January 1 4,000,000
Accounts receivable collected 8,400,000
Cash sales 2,000,000
Inventory, Jan. 1 4,800,000
Inventory, Dec. 31 4,400,000
Purchases 8,000,000
Gross Margin on Sales 4,200,000
What is the balance of accounts receivable on December 31, 2019?
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