What is the balance sheet entry for receivables

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1. Crazy Corp issues invoices yielding revenue of $130,000 in April, $145,000 in May, and $50,000 in June. Crazy Corp expects to collect 33% of each invoice in the current month and the balance the following month. What is the Balance Sheet entry for Receivables in May?

a. $130,000

b. $87,100

c. $145,000

d. $97,150

e. $33,500

2. You are selling a product for $5.00 per unit. The cost to produce each product is $l.50 including material and labor. The overhead cost for the facility is $5,000 per month. The number of units you need to sellto breakeven is closest to:

a. 1,000

b. r,200

c. 1,429

d. 1,975

e. 3,333

Reference no: EM132061228

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