Utica Companys net accounts receivable was $250,000 at December 31, 20X0, and $300,000 at December 31, 20X1.

Question:

Utica Company’s net accounts receivable was $250,000 at December 31, 20X0, and $300,000 at December 31, 20X1. Net cash sales for 20X1 were $100,000. The accounts receivable turnover for 20X1 was 5.0, which was computed from net credit sales for the year.

Required:

What was Utica’s total net sales for 20X1?

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