Chapter 6: Sales in accounting Thompson Corporation reported an increase of $420,000 in its accounts receivable during the year 2022. The company's statement of cash flows for 2022 reported $1,200,000 of cash received from customers. What amount of net sales must Thompson have recorded in 2022?
Chapter 6: Sales in accounting Thompson Corporation reported an increase of $420,000 in its accounts receivable during the year 2022. The company's statement of cash flows for 2022 reported $1,200,000 of cash received from customers. What amount of net sales must Thompson have recorded in 2022?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter6: Statement Of Cash Flows
Section: Chapter Questions
Problem 14E
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Sales in Accounting
Transcribed Image Text:Chapter 6: Sales in accounting
Thompson Corporation reported an increase of
$420,000 in its accounts receivable during the
year 2022. The company's statement of cash flows
for 2022 reported $1,200,000 of cash received
from customers.
What amount of net sales must Thompson have
recorded in 2022?
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