Accounting

Caldwell Company wants you to prepare a spreadsheet to answer the following questions:

A. Sales for the period were $500,000. The beginning accounts receivable balance was $40,000. The ending balance was $35,000. Sales discounts of $5,000 were given. No accounts were written off and no sales returns and allowances were given.

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How much cash was received from customers?

B. Cash collections from customers during the period were $800,000. The ending balance of accounts receivable was $12,000. The beginning balance of accounts receivable was $23,000. Sales discounts of $4,000 were given during the period. Sales returns and allowances during the period were $1,500. An account with a $5,000 balance was written off during the period.

What is the amount of the sales for the period?

C. Sales for the period were $350,000, while cash collections from customers were only $300,000. Sales discounts of $3,500 and sales returns and allowances of $1,000 were granted during the period.
The beginning balance of accounts receivable was $10,000. No accounts were written off during the period.

What is the ending balance of accounts receivable?

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