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22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 40,000 160,000 Accounts receivable turnover 4:1 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 120,000 60,000 3:1

22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 40,000 160,000 Accounts receivable turnover 4:1 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 120,000 60,000 3:1

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...
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How much is the gross profit for the year?
a. 120,000 b. 130,000 C. 132,000 d. 146,000

22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 Accounts receivable turnover 40,000 160,000 4:1 120,000 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 60,000 3:1
Transcribed Image Text:22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 Accounts receivable turnover 40,000 160,000 4:1 120,000 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 60,000 3:1
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