Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and accounts receivable decreased by $42,000 during the year.How much were sales on account for the year ended December 31, 2019? (Assume that no cash sales were made during the year and that all sales on account are collectible.)
A) $230,000.
B) $272,000.
C) $314,000.
D) $356,000.
Correct Answer:
Verified
Q19: The major difference between the indirect and
Q20: When the periodic inventory system is used:
A)operating
Q21: Bluestar University has a fiscal year that
Q22: Selling, general, and administrative expenses were $80,000;
Q23: Net income was $40,000; accounts receivable decreased
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Q28: Which of the following is not a
Q29: Selling, general, and administrative expenses were $80,000;
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