A company has the following information: ⚫ Cash sales: $200,000 . . Credit sales: $150,000 ⚫ Accounts receivable at the beginning of the year: $50,000 ⚫ Accounts receivable at the end of the year: $70,000 What is the company's total sales for the year?

A company has the following information: ⚫ Cash sales: $200,000 . . Credit sales: $150,000 ⚫ Accounts receivable at the beginning of the year: $50,000 ⚫ Accounts receivable at the end of the year: $70,000 What is the company's total sales for the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

Can you explain the correct approach to solve this general accounting question?

A company has the following information:
⚫ Cash sales: $200,000
.
.
Credit sales: $150,000
⚫ Accounts receivable at the beginning of the year: $50,000
⚫ Accounts receivable at the end of the year: $70,000
What is the company's total sales for the year?

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