1.CMA Company accepted from a customer P1,000,000 face amount, 6-month,8% note dated April 1, 2021. on the...
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3.CPA Company provided the following information relating to current operations
Accounts Receivable, January 1 | 4,000,000 |
Accounts Receivable Collected | 8,400,000 |
Cash Sales | 2,000,000 |
Inventory, January 1 | 4,800,000 |
Inventory, December 31 | 4,400,000 |
Purchases | 8,000,000 |
Gross Profit | 4,200,000 |
What amount should be reported as accounts receivable on December 31?
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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