Perez Pointers Corporation expects to begin operations on January 1, 2019; it will operate as...
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Perez Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Perez expects sales in January 2019 to total $340,000 and to increase 15 percent per month in February and March. All sales are on account. Perez expects to collect 69 percent of accounts receivable in the month of sale, 21 percent in the month following the sale, and 10 percent in the second month following the sale.
Required
Determine the amount of accounts receivable as of March 31, 2019.
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