Answered: Light Co.’s accounts receivable…

Name: Light Co.’s accounts receivable balances at the beginning and end of t
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Description: Light Co.’s accounts receivable balances at the beginning and end of the period were 80,000 and 100,000, respectively. Write-offs and recoveries during the period amounted to 10,000 and 8,000, respectively. Collections of sales on account during the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Light Co.’s accounts receivable balances at the beginning and end of the period were 80,000 and 100,000, respectively. Write-offs and recoveries during the period amounted to 10,000 and 8,000, respectively. Collections of sales on account during the period totaled 120,000, excluding the recoveries. How much is the total credit sales during the period? a.150,000. B. 170,000. C. 190,000. D. 120,000

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