Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and accounts receivable decreased by $42,000 during the year. How much were sales on account for the year ended December 31, 2019? (Assume that no cash sales were made during the year and that all sales on account are collectible. 230,000 272,000 314,000 356,000
Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and accounts receivable decreased by $42,000 during the year. How much were sales on account for the year ended December 31, 2019? (Assume that no cash sales were made during the year and that all sales on account are collectible. 230,000 272,000 314,000 356,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and
230,000
272,000
314,000
356,000
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