A company had the following sales transactions: 1. Total debit card sales = $230,000. 2. Total credit card sales = $440,000. 3. Total cash sales = $840,000. 4. Total check sales = $140,000. There is a charge of 5% on all credit card transactions. Calculate total sales revenue recorded for the year. Sales revenue

Q: Sanders Prime Time Company has annual credit sales of $1,800,000 and accounts receivable of…

A: Average collection period (ACP) is the time taken to collect the cash from its accounts receivables.…

Q: A company had the following sales transactions: 1. Total debit card sales = $270,000. 2. Total…

A: Sales Transactions Revenue: Sales revenue is the amount of money earned by a corporation through the…

Q: Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: ABC Sportswear Company had accounts receivable of $206,024,000 at the beginning of a recent year,…

A: Cash receipts from customers will be equal to : Accounts receivables at the beginning of the year  +…

Q: Pine Hardware Store had net credit sales of P6,045,000 and cost of goods sold of P5,000,000 for the…

A: Solution:- Introduction:- Accounts receivables turnover ratio measures the number of times per year…

Q: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

Q: Alco Roofing Company's beginning accounts receivable were $200,000 and ending accounts receivable…

A: Equation is  opening receivables + credit sales - collections = ending receivables

Q: Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales…

A: The ratio analysis helps to analyse the financial statements of the business.  The account…

Q: The following are the transaction for the month of February     Cash Sales   $45000   Credit…

A: Accounts receivable:  It is a current asset of an organization. It is the amount due from customers…

Q: Sales revenue for Bancroft was $560,000. The following data are from the accounting records of…

A: The cash collection is calculated as sales revenue plus change in receivable balance

Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…

A: Given: Credit sales = $180,000 Accounts receivables = $14,000

Q: A company has cash sales of $75,000, credit sales of $320,000, sales returns and allowances of…

A: Net sales = Gross sales - Sales returns and allowances - Sales discounts Gross sales includes both…

Q: Use the information in each of the following separate cases to calculate the unknown amount.

A:

Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…

A:

Q: Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total…

A: Dear student, as per Bartleby answering guidelines we can answer only the first question if the…

Q: Swiss Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: Assuming 77 percent of sales are on credit, what is the company's days' sales in receivables?

A: Information Provided: Net Income = $191,000 Profit Margin = 9.10% Accounts Receivable = $106,919…

Q: Beginning accounts receivable were $277,500 and ending accounts receivable were $303,300. Cash…

A: Accounts Receivable Balance: The accounts receivable balance is the outstanding balance in the…

Q: Abaca Company's accounts receivable is P240,000 at the beginning of the year and 280,000 at the end…

A: 1. 6× means 6 times. Accounts Receivables turnover ratio is 6               times.  2. Total Sales…

Q: Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a…

A: Accounts receivable turnover analyzes the number of times accounts receivables is collected and…

Q: JKL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Average Collection Period: In terms of Accounts Receivable, the average collection time of the…

Q: s Inc. had sales of $2,027,773 per year (all credit) and its days sales outstanding was equal to 35…

A: Given, Credit sales amount = $2,027,773 Days sales outstanding = 35

Q: Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total…

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

Q: During the year, the following sales transactions occur. There is a charge of 3% on all credit card…

A: Given information is:  There is a charge of 3% on all credit card transactions and a 1% charge on…

Q: Al Sharif Company's Average Accounts Receivables is OMR 360,000 and total Sales is OMR 1,200,000.…

A: Credit sale=Total sale×100-Cash sale %=OMR 1,200,000×100-40%=OMR 720,000

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Financial statements are statements which states the business activities performed by the company .…

Q: Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the…

A: Solution..   Net credit sales = $6,500,000  Beginning accounts receivable = $600,000  Ending…

Q: Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending…

A: The account receivables are also known by the name of debtors. These are the values due to a firm on…

Q: Company Abel has total sales of $375,000, of which, $125,000 represents cash sales. Its annual…

A: Accounts receivable is the amount of money not paid by customers that is due to the organization for…

Q: Maxwell Furniture Center had accounts receivable of $20,000 at the beginning of the year and $54,000…

A: Accounts receivable is increased by ($54,000-$20,000) $34,000 during the year.

Q: On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May.…

A: Solution: Accounts Receivable are the balance of amount which is due to a company for the goods…

Q: Flyer Company has provided the following information. Cash sales, $325,000 Credit sales, $850.000…

A: Formula: Total sales = Cash sales + Credit sales. Cash and credit sales combined called as Credit…

Q: Khan's had the following accounts at year end: Cash-250,000, Accounts Payable-70,000, Accounts…

A: Introduction: Current Assets: Currents assets are shown in Balance sheet. Assets which can be easily…

Q: A company had a beginning balance in accounts receivable of 15,000 USD. At the end of the period,…

A: Given that, beginning balance in accounts receivable of 15,000 USD closing  balance in accounts…

Q: You are given the following figures for sales and receivables: 20X7 20X6 $ $ Receivables at year end…

A: We have the following information: Receivables in the year beginning: $69,472 (Receivables at year…

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The cash basis system state that the revenue should be recorded when the actual amount of cash is…

Q: On April 30, Holden Company had an Accounts Receivable balance of $18,00O. During the month of May.…

A: Accounts receivables are the dues that the company is entitled to receive from credit purchasers.…

Q: Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the…

A: A ratio that provides information regarding the company’s efficiency to collect their accounts…

Q: During March, Sam Company had cash sales of $35,000 and sales on account of $210,000. In April,…

A: Sales may be for cash or on credit. If it is on cash, cash is instantly received on sale. On the…

Q: ble, December 1 148,000 Accounts Receivable, December 31 160,000 Accounts Receivable written-off as…

A: For the month of December, the records of ABC Corporation show the following information:   Given…

Q: A company has net income of $182,000, a profit margin of 9.90 percent, and an accounts receivable…

A: Days sales in receivables = Accounts receivable/credit sales *365

Q: KL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Solution: Net Credit Sales = 80% of $1,000,000                             = 800,000 For calculating…

Q: Dedpul Company provided the following transactions affecting accounts receivable during the current…

A: The account receivable is referred to as the amount that a company is yet to received from its…

Q: Alco Roofing Company’s beginning accounts receivable were $200,000. Ending accounts receivable were…

A: Cash collected from customers = Beginning accounts receivable + credit sales - Ending accounts…

Q: JG Company had an accounts receivable balance of ₱40,000 on December 31, 2001, and ₱65,000 on…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: Blue Air Inc., has net sales of $767,000 and accounts receivables of $162,000. What are the firm's…

A: We have the following information: Net Sales: $767,000 Accounts Receivables: $162,000