The sales for an organisation within an accounting period were $340 000, opening accounts receivable was $40
Question:
The sales for an organisation within an accounting period were $340 000, opening accounts receivable was $40 000, and closing accounts receivable was $15 000. There were no doubtful debts expenses for the period. All sales are made on credit terms, meaning there were no cash sales. How much cash was actually received from customers within the accounting period?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
To determine how much cash was actually received from customers with...View the full answer
Answered By
Owino Otieno
My proficiency as a tutor lies in my ability to understand and respond to questions, provide explanations, and offer detailed information on various topics. I can help with academic subjects such as mathematics, science, history, literature, and more. I can also provide assistance with writing, proofreading, and language learning.
I am capable of adapting to different learning styles and can present information in a clear and concise manner. I can break down complex concepts into simpler terms, provide examples and illustrations, and engage in interactive discussions to enhance the learning experience. Additionally, I can offer guidance on problem-solving strategies, critical thinking, and exam preparation.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You are a 3rd year trainee accountant at the internationally acclaimed audit firm, DPY Incorporated (DPY Inc.). You are based at the Durban office of DPY Inc. DPY Inc. are the auditors of Silky Hair...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
1. Determine if the ITGC listed is a preventive or a detective and corrective control. ITGC Changes to the IT application are tested by business and (or) IT users, as appropriate, prior to the move...
-
Why are process control systems necessary? Give TWO examples of their usefulness within the plant.
-
Use the accompanying diagram to answer questions a and b. a. On the exhibit provided, illustrate the short-run effects of a decrease in aggregate demand. What happens to the price level, real output,...
-
Aquazona Pool Company is a custom pool builder. The company recently completed a pool for the Drayna family (Job 1324) as summarized on the incomplete job cost sheet on the following page. The...
-
Discuss how the Privacy Act of 1974 and the Health Insurance Portability and Accountability Act of 1996 safeguard a patients privacy.
-
You are a financial analyst for the Ajax Company, which uses about $1 million of inventory per month. The purchasing manager has come to you for help with a buying decision. He can get a big discount...
-
Environmental friendly marketing indicates marketing of environment friendly products and services. What can we call such marketing strategies that create long term customer relationship along with...
-
The assets, labilities, and equities of Dundee Design Studio have the following balances at December 31, 2024. The Retained Earnings was $31,000 at the beginning of the year. At year end, Common...
-
Rottnest Ltd has provided you with the following information: REQUIRED Assuming that accounts payable relate only to the purchase of inventory, you are to determine the cash payments made to...
-
Sunshine Beach Ltd started the accounting period with a liability for accrued wages of $50 000. Wages expense for the year was $780 000 and the closing balance of accrued wages was $65 000. How much...
-
The following are selected accounts for McPhan Company as reported in the worksheet using a perpetual inventory system at the end of May 2020. Instructions Complete the worksheet by extending amounts...
-
The instructions on the chlorinator for a fish tank say to put in five drops per gallon. Jeff has a fish tank that holds 2.27 ft. of water. How many drops to Jeff use
-
12) Compared to a methane molecule (CH4, FW = 16), the average speed of a sulfur dioxide molecule (SO2, FW = 64) is a) 4 times faster c) 2 times slower e) equally fast b) 2 times faster d) 4 times...
-
A brick wall 30 ft in length contains 2060 bricks. At the same rate, how many bricks would it take to build a wall 54 ft in length
-
line r has an equation of y + 1 0 = - 2 ( x - 6 ) . line s is perpendicular to line r and passes theough ( 1 , 2 ) . whqt is the equation of line s ?
-
If the population is 37,691,912 people, and the area is 158,633 mi2, what is the population density
-
The probability that exactly 12 students pass the course A discrete random variable is given. Assume the probability of the random variable will be approximated using the normal distribution....
-
Sandcastles, Inc.s management has recently been looking at a proposal to purchase a new brick molding machine. With the new machine, the company would not have to buy bricks. The estimated useful...
-
Recently, it was announced that two giant French retailers, Carrefour SA and Promodes SA, would merge. A headline in the Wall Street Journal blared, "French Retailers Create New Wal-Mart Rival."?...
-
Recently, it was announced that two giant French retailers, Carrefour SA and Promodes SA, would merge. A headline in the Wall Street Journal blared, "French Retailers Create New Wal-Mart Rival."?...
-
Three years ago, Amy Blodgett and her brother-in-law Dennis Torres opened Megamart Department Store. For the first 2 years, business was good, but the following condensed income statement results for...
-
2. A car drove along the 3 streets as shown. If the trip took 60 seconds, what is the speed and average velocity? Draw the displacement vector! Start 100m 20m 100m Finish
-
a) What are the energies in electron volts (eV) of light at wavelengths 850, 1310, 1490, and 1550 nm? b) Consider a 1-ns pulse with a 100-nW amplitude at each of these wavelengths. How many photons...
-
On Mars, the acceleration due to gravity is 3.77 m/s. How far h would a 35 g rock fall from rest in 7.5 s if the only force acting on it was the gravitational force due to Mars? h = m
Study smarter with the SolutionInn App