The general ledger of the Grey Limited provides the following information:
The company's net sales for the year was $2,000,000 and cost of sales sold amounted to $1,700,000.
Required: Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

Question

The general ledger of the Grey Limited provides the following information:
  The company's net sales for the year was $2,000,000 and cost of sales sold amounted to $1,700,000.
Required: Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

Quizplus · Accepted Answer

The Answer of The general ledger of the Grey Limited provides the following information:
  The company's net sales for the year was $2,000,000 and cost of sales sold amounted to $1,700,000.
Required: Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

The General Ledger of the Grey Limited Provides the Following