During 2022 Tamarisk, Inc. had sales on account of $728000, cash sales of $324000, and collections on account of $507000. In addition, they collected $9900 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable indicates a $221000 increase.
During 2022 Tamarisk, Inc. had sales on account of $728000, cash sales of $324000, and collections on account of $507000. In addition, they collected $9900 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable indicates a $221000 increase.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2022 Tamarisk, Inc. had sales on account of $728000, cash sales of $324000, and collections on account of $507000. In addition, they collected $9900 which had been written off as uncollectible in 2021. As a result of these transactions the change in the
$221000 increase.
$545000 increase.
$211100 increase.
$536000 increase.
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