Pots-R-Us deals in ceramic pots and figurines. All sales are conducted on a credit basis and no cash discounts are given. Ignore GST. The following information was extracted from the accounting records at 30 June 2022: § Credit Sales Sales returns and allowances Cash collected Debts to be written off 552,000 37,900 319,120 4,022 Allowance for Doubtful Debts 1 July 2021 2,645 Cr i How much would be reported in the balance sheet fo gross accounts receivable (before any allowance for doubtful debts or bad debt write-off) at 30 June 2022? O a. $522 000 O b. $514 000 O c. $511 455 O d. $232 880 O e. $194 980
Pots-R-Us deals in ceramic pots and figurines. All sales are conducted on a credit basis and no cash discounts are given. Ignore GST. The following information was extracted from the accounting records at 30 June 2022: § Credit Sales Sales returns and allowances Cash collected Debts to be written off 552,000 37,900 319,120 4,022 Allowance for Doubtful Debts 1 July 2021 2,645 Cr i How much would be reported in the balance sheet fo gross accounts receivable (before any allowance for doubtful debts or bad debt write-off) at 30 June 2022? O a. $522 000 O b. $514 000 O c. $511 455 O d. $232 880 O e. $194 980
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Pots-R-Us deals in ceramic pots and figurines. All sales are conducted on a credit basis and no cash discounts are given. Ignore GST. The following information
was extracted from the accounting records at 30 June 2022:
§
Credit Sales
Sales returns and allowances
Cash collected
Debts to be written off
552,000
37,900
319,120
4,022
Allowance for Doubtful Debts 1 July 2021 2,645 Cr
i
How much would be reported in the balance sheet fo gross accounts receivable (before any allowance for doubtful debts or bad debt write-off) at 30 June 2022?
O a. $522 000
O b. $514 000
O c. $511 455
O d. $232 880
O e. $194 980
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