Please answer in 1 hour on 6etredSohar Company's income statement for 2021 is given below. If Accounts receivable balances are 14000 in 2021 and 7000 in 2020.Which of the following is cash collections from customers?Sales85,000ed out of-COGS65,000Gross Profit20,000ag question-OperatingExpensesOperating Profit-Interest ExpenseProfit before Tax8,00012,0002,00010,000-Tax3,000Net Profit7,000Select one:O a. 78000O b. 85000O c 92000O d. 95000

Accounts receivable represents the current assets which increases with the level of credit sales…

Sohar Company's income statement for 2021 is given below. If Accounts receivable balances are 14000 in 2021 and 7000 in 2020. Which of the following is cash collections from customers? Sales 85,000 -COGS 65,000 Gross Profit 20,000 -Operating Expenses Operating Profit -Interest Expense Profit before Tax 8,000 12.000 2,000 10,000 -Tax 3,000 Net Profit 7,000 Select one: Oa. 78000 O b. 85000 Oc 92000 O d. 95000

Sohar Company's income statement for 2021 is given below. If Accounts receivable balances are 14000 in 2021 and 7000 in 2020. Which of the following is cash collections from customers? Sales 85,000 -COGS 65,000 Gross Profit 20,000 -Operating Expenses Operating Profit -Interest Expense Profit before Tax 8,000 12.000 2,000 10,000 -Tax 3,000 Net Profit 7,000 Select one: Oa. 78000 O b. 85000 Oc 92000 O d. 95000

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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