For the month of December 2014, Ranger Corporations records show the following information Cash received on accounts receivable $35,000 Cash sales 30,000 Accounts receivable, December 1, 2014 80,000 Accounts receivable, December 31, 2014 74,000 Accounts receivable written off as uncollectible 1,000...

To find the amount of gross sales start by determining credit sales We can do this with the ac ...

For the month of December 2014, Ranger Corporations records show the following information: Cash received on accounts

Question:

For the month of December 2014, Ranger Corporation’s records show the following information:
Cash received on $35,000
Cash sales 30,000
Accounts receivable, December 1, 2014 80,000
Accounts receivable, December 31, 2014 74,000
Accounts receivable written off as uncollectible 1,000

Required:
Determine the gross sales for the month of December 2014.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...