Accounts Receivable Balance Beginning accounts receivable were $275,500 and ending accounts receivable were $302,300. Cash amounting to $2,965,000 was collected from customers' credit sales. Required: Calculate the amount of sales on account during the period.
Accounts Receivable Balance Beginning accounts receivable were $275,500 and ending accounts receivable were $302,300. Cash amounting to $2,965,000 was collected from customers' credit sales. Required: Calculate the amount of sales on account during the period.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...
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Accounts Receivable Balance
Beginning accounts receivable were $275,500 and ending accounts receivable were $302,300. Cash amounting to $2,965,000 was collected from customers' credit sales.
Required:
Calculate the amount of sales on account during the period.
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