What should the balance in accounts receivable

Reference no: EM13268542

On March 31, 2007, Mike's Bike Shop had outstanding accounts receivable of $17,500. Mike's sales are roughly evenly split between credit and cash sales, with the credit sales collected half in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the bike shop are given: Month Sales Month Sales January $15,000 March $25,000 February 20,000 April (projected) 30,000 a. Under these circumstances, what should the balance in accounts receivable be at the end of April? b. How much cash did Mike's real

Reference no: EM13268542

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