Question

During 2014, King Corporation wrote off accounts receivable totaling $25,000 and made sales, all on account, of $710,000. Other information about the company’s sales activities follows:


In addition, in February 2014, King accepted a $6,000 note from a customer whose account was overdue. King collected $2,300 on this note during December 2014.

Required:
Prepare a schedule showing the amount of cash collected from customers during2014.


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  • CreatedSeptember 10, 2014
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