6. The beginning balance in Accounts Receivable on Company A's Year 2 Balance Sheet is $20,000...
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6. The beginning balance in Accounts Receivable on Company A's Year 2 Balance Sheet is $20,000 and the ending balance is $110,000. Cash collections from customers are $105,000, and an account for a customer owing $5,000 was written off because the company didn't think the customer would pay. What is the Sales on account during Year 2 on the Year 2 Income Statement? Assuming no other transactions affected the account during the year. Hint: you may find it helpful to use a t-account as you work through this question. $190,000 $200,000 $195,000 $215,000 6. The beginning balance in Accounts Receivable on Company A's Year 2 Balance Sheet is $20,000 and the ending balance is $110,000. Cash collections from customers are $105,000, and an account for a customer owing $5,000 was written off because the company didn't think the customer would pay. What is the Sales on account during Year 2 on the Year 2 Income Statement? Assuming no other transactions affected the account during the year. Hint: you may find it helpful to use a t-account as you work through this question. $190,000 $200,000 $195,000 $215,000
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Related Book For
Financial Accounting
ISBN: 978-1259307959
4th edition
Authors: David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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