Questions: Dr. Grossman was reviewing his total accounts receivable. This month, credit customers paid 44,000, which represented 20% of all receivables due (what customers owe). What was Dr. Grossman's total accounts receivable?

Dr. Grossman was reviewing his total accounts receivable. This month, credit customers paid 44,000, which represented 20% of all receivables due (what customers owe). What was Dr. Grossman's total accounts receivable?

Transcript text: Dr. Grossman was reviewing his total accounts receivable. This month, credit customers paid $\$ 44,000$, which represented $20 \%$ of all receivables due (what customers owe). What was Dr. Grossman's total accounts receivable?

Solution

Solution Steps

To find Dr. Grossman's total accounts receivable, we can use the information that $44,000 represents 20% of the total receivables. We can set up an equation where 20% of the total receivables equals $44,000 and solve for the total receivables.

Step 1: Identify the Given Information

We are given that the amount paid by credit customers is \$44,000, which represents 20% of the total accounts receivable.

Step 2: Set Up the Equation

Let $ T $ be the total accounts receivable. According to the problem, 20% of $ T $ is equal to \$44,000. We can write this as: \[ 0.20T = 44000 \]

Step 3: Solve for $ T $

To find $ T $, we divide both sides of the equation by 0.20: \[ T = \frac{44000}{0.20} \]

Step 4: Calculate the Total Receivables

Perform the division to find $ T $: \[ T = 220000.0 \]