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Xavier Ltd provides the following information for the year ended 30 June 2023: S'000 Sales for the year 1 560 Discounts allowed 130 Bad debts expense 40 Opening balance Accounts Receivable 660 Closing balance Accounts Receivable 500 Sales returns 70 What amount of cash was received from customers during the year? Question 12 Answer a. $1 550 000 b. $1 480 000 c. $1 230 000 d. $1 160 000 e. None of the above

Xavier Ltd provides the following information for the year ended 30 June 2023: S'000 Sales for the year 1 560 Discounts allowed 130 Bad debts expense 40 Opening balance Accounts Receivable 660 Closing balance Accounts Receivable 500 Sales returns 70 What amount of cash was received from customers during the year? Question 12 Answer a. $1 550 000 b. $1 480 000 c. $1 230 000 d. $1 160 000 e. None of the above

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Xavier Ltd provides the following information for the year ended 30 June 2023: $'000 Sales for the year 1 560 Discounts allowed 130 Bad debts expense 40 Opening balance Accounts Receivable 660 Closing balance Accounts Receivable 500 Sales returns 70 What amount of cash was received from customers during the year? Question 12 Answer a. $1 550 000 b. $1 480 000 c. $1 230 000 d. $1 160 000 e. None of the above
Transcribed Image Text:Xavier Ltd provides the following information for the year ended 30 June 2023: $'000 Sales for the year 1 560 Discounts allowed 130 Bad debts expense 40 Opening balance Accounts Receivable 660 Closing balance Accounts Receivable 500 Sales returns 70 What amount of cash was received from customers during the year? Question 12 Answer a. $1 550 000 b. $1 480 000 c. $1 230 000 d. $1 160 000 e. None of the above
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