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Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending accounts receivable balance at December 31 is $300,000. Assuming cash collections from receivables totaled $1,100,000, what were credit sales for the period?   A. $1,300,000 B. $1,500,000 C. $1,200,000 D. $1,100,000

Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending accounts receivable balance at December 31 is $300,000. Assuming cash collections from receivables totaled $1,100,000, what were credit sales for the period?   A. $1,300,000 B. $1,500,000 C. $1,200,000 D. $1,100,000

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 1CE
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Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending accounts receivable balance at December 31 is $300,000. Assuming cash collections from receivables totaled $1,100,000, what were credit sales for the period?

 
  • A. $1,300,000
  • B. $1,500,000
  • C. $1,200,000
  • D. $1,100,000
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