The Cash Receipts Journal of the Silicon Valley Company shows the following accounts and account balances: • Sales P 125,000 • Accounts receivable 65,000 • Sundry accounts (credit) 1,802,650 • Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal? A. P1,737,650 B. P1,987,650 C. P1,992,650 D. P1,857,650

The Cash Receipts Journal of the Silicon Valley Company shows the following accounts and account balances: • Sales P 125,000 • Accounts receivable 65,000 • Sundry accounts (credit) 1,802,650 • Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal? A. P1,737,650 B. P1,987,650 C. P1,992,650 D. P1,857,650

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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