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Additional Information: 1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred 2. 40% of the Sales are on credit - and we allow one - month credit period - and 60% of The sales for immediate settlement 3. Half of the Purchases are on credit - and 1 month credit period - and half are for immediate settlement 4. The balance at the bank as at 31st December 2019 was OMR 8000 What will be the Closing balance of cash on March, 2020? Select one: a. None of the options b. OMR 6800 c. OMR 6900 d. OMR 6200

Additional Information: 1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred 2. 40% of the Sales are on credit - and we allow one - month credit period - and 60% of The sales for immediate settlement 3. Half of the Purchases are on credit - and 1 month credit period - and half are for immediate settlement 4. The balance at the bank as at 31st December 2019 was OMR 8000 What will be the Closing balance of cash on March, 2020? Select one: a. None of the options b. OMR 6800 c. OMR 6900 d. OMR 6200

FINANCIAL ACCOUNTING
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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Additional Information:

1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred

2. 40% of the Sales are on credit - and we allow one - month credit period - and 60% of The sales for immediate settlement

3. Half of the Purchases are on credit - and 1 month credit period - and half are for immediate settlement

4. The balance at the bank as at 31st December 2019 was OMR 8000 What will be the Closing balance of cash on March, 2020? Select one:
a. None of the options
b. OMR 6800
c. OMR 6900
d. OMR 6200

The following sales are expected/2 over the Four-month period from December 2019 to Mar 2020 Purchases Sales Dec- OMR 30000 OMR 26000 2019 Jan- OMR 25000 OMR 30000 2020 Feb- OMR 24000 OMR 24000 2020 Mar- OMR 26000 OMR 28000 2020 < o O
Transcribed Image Text:The following sales are expected/2 over the Four-month period from December 2019 to Mar 2020 Purchases Sales Dec- OMR 30000 OMR 26000 2019 Jan- OMR 25000 OMR 30000 2020 Feb- OMR 24000 OMR 24000 2020 Mar- OMR 26000 OMR 28000 2020 < o O
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