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Question: 23 Torrence Corporation has the following data: Accounts Receivable: • December 31, 2010: $105,000.00 • January 31, 2011: $135,000.00 Sales During: December 2010: x January 2011: y Sales Collections: During the month of sales: 45% Next month of sales: 55% No bad debts (all sales are collected). Find the sales made during December.

Question: 23 Torrence Corporation has the following data: Accounts Receivable: • December 31, 2010: $105,000.00 • January 31, 2011: $135,000.00 Sales During: December 2010: x January 2011: y Sales Collections: During the month of sales: 45% Next month of sales: 55% No bad debts (all sales are collected). Find the sales made during December.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...
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Question: 23 Torrence Corporation has the following data: Accounts Receivable: • December 31, 2010: $105,000.00 • January 31, 2011: $135,000.00 Sales During: December 2010: x January 2011: y Sales Collections: During the month of sales: 45% Next month of sales: 55% No bad debts (all sales are collected). Find the sales made during December.
Transcribed Image Text:Question: 23 Torrence Corporation has the following data: Accounts Receivable: • December 31, 2010: $105,000.00 • January 31, 2011: $135,000.00 Sales During: December 2010: x January 2011: y Sales Collections: During the month of sales: 45% Next month of sales: 55% No bad debts (all sales are collected). Find the sales made during December.
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