Question: The Mason Company a retail business had 100 000 in
The Mason Company, a retail business had $ 100,000 in cash sales and $ 450,000 in credit sales for 2012. The accounts receivable balances were $ 50,000 and $ 60,000 on December 31, 2011 and 2012, respectively. What was the cash receipts from sales in 2012?
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