The Opening Balance of Accounts Receivable in October Is $255,000

Multiple Choice

The opening balance of accounts receivable in October is $255,000. Sales for the month are forecast to be $600,000 of which 55% are on credit. If customers pay in full in one month, what cash will be received from customers in October?

A) $270,000
B) $525,000
C) $585,000
D) $384,750
E) $465,000