On December 31, 2019, Munchkin Company had a $367,650 balance in Accounts Receivable. During the year 2020, the company collected $600,000 from its credit customers. The December 31, 2020 balance of the Accounts Receivable was $511,950. Determine the amount of sales on accounts for 2020?

Answer rating: 100% (QA)

To determine the amount of sales on accounts for 2020 we need to calculate the change in the accou... View the full answer