2019 2020 2019 2020 Cash $2,000 $4,500 Accounts payable $4,000 $8,200 Accounts receivable $6,000 $8,200 Utilities payable $1,800 $2,100 Inventory $3,000 $3,400 Salaries payable $4,500 $4,100 Prepaid rent $800 $600 Notes payable $8,000 $9,200 Equipment $12,000 $12,000 Interest payable $400 $900 Accum. depreciation ($2,400) ($2,800) Common stock $6,000 $6,000 Land $6,200 $8,000 Retained earnings $2,900 $3,400 $27,600 $33,900 $27,600 $33,900 Given the above information, how much were total sales if $84,000 in cash was collected during 2020? $81,800 $86,200 $87,500 $81,500 O None of the above

2019 2020 2019 2020 Cash $2,000 $4,500 Accounts payable $4,000 $8,200 Accounts receivable $6,000 $8,200 Utilities payable $1,800 $2,100 Inventory $3,000 $3,400 Salaries payable $4,500 $4,100 Prepaid rent $800 $600 Notes payable $8,000 $9,200 Equipment $12,000 $12,000 Interest payable $400 $900 Accum. depreciation ($2,400) ($2,800) Common stock $6,000 $6,000 Land $6,200 $8,000 Retained earnings $2,900 $3,400 $27,600 $33,900 $27,600 $33,900 Given the above information, how much were total sales if $84,000 in cash was collected during 2020? $81,800 $86,200 $87,500 $81,500 O None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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