For the month of November, the records of Horizon Technologies show the following information: Cash received on accounts receivable: $80,000 Cash sales: $75,000 Accounts Receivable, November 1: $140,000 Accounts Receivable, November 30: $130,000 Accounts Receivable written off as uncollectible: $3,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of November? (a) $132,000 (b) $135,000 (c) $148,000 (d) $155,000

Financial Accounting
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Author:Carl Warren, James M. Reeve, Jonathan Duchac
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Chapter5: Accounting Systems
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For the month of November, the records of Horizon Technologies show the following
information:
Cash received on accounts receivable: $80,000
Cash sales: $75,000
Accounts Receivable, November 1: $140,000
Accounts Receivable, November 30: $130,000
Accounts Receivable written off as uncollectible: $3,000
The corporation uses the direct write-off method in accounting for uncollectible
accounts receivable. What are the gross sales for the month of November?
(a) $132,000
(b) $135,000
(c) $148,000
(d) $155,000
Transcribed Image Text:For the month of November, the records of Horizon Technologies show the following information: Cash received on accounts receivable: $80,000 Cash sales: $75,000 Accounts Receivable, November 1: $140,000 Accounts Receivable, November 30: $130,000 Accounts Receivable written off as uncollectible: $3,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of November? (a) $132,000 (b) $135,000 (c) $148,000 (d) $155,000
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