For the month of May 2015, Ceres Corporation, which uses the direct write-off method in accounting for uncollectible accounts receivable, has the following information: Cash sales $40,000 Cash received on accounts receivable 32,000 Accounts receivable, May 1, 2015 105,000 Accounts receivable, May 31, 2015 92,000 Accounts receivable written off as uncollectible 2,000 What are the gross sales for May 2015? A :  $19,000  B : $61,000  C : $59,000  D : $78,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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7.11:
 
For the month of May 2015, Ceres Corporation, which uses the direct write-off method in accounting for uncollectible accounts receivable, has the following information:

Cash sales
$40,000
Cash received on accounts receivable
32,000
Accounts receivable, May 1, 2015
105,000
Accounts receivable, May 31, 2015
92,000
Accounts receivable written off as uncollectible
2,000

What are the gross sales for May 2015?
  • A :  $19,000 


  • B : $61,000 


  • C : $59,000 


  • D : $78,000 
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