For the month of December, the records of Balin Corporation show the following information: Cash received on accounts receivable $ 70,000 Cash sales 60,000 Accounts Receivable, December 1 160,000 Accounts Receivable, December 31 148,000 Accounts Receivable written off as uncollectible ...... 2,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of December? A) $118,000 B) $120,000 C) $130,000 D) $144,000

For the month of December, the records of Balin Corporation show the following information: Cash received on accounts receivable $ 70,000 Cash sales 60,000 Accounts Receivable, December 1 160,000 Accounts Receivable, December 31 148,000 Accounts Receivable written off as uncollectible ...... 2,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of December? A) $118,000 B) $120,000 C) $130,000 D) $144,000

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 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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