On 1 August 2007 Ernie was owed $55,000 by his credit customers. During the year Ernie's...

 

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On 1 August 2007 Ernie was owed $55,000 by his credit customers. During the year Ernie's credit sales totalled $612,700. Discounts allowed totalled $3,500, Irrecoverable debts $800 and dishonoured cheques amounted to $6,500. On 31 July 2008 Eric was owed $62,550 from his credit customers. What was the amount received from credit customers during the year ended 31 July 2008? On 1 August 2007 Ernie was owed $55,000 by his credit customers. During the year Ernie's credit sales totalled $612,700. Discounts allowed totalled $3,500, Irrecoverable debts $800 and dishonoured cheques amounted to $6,500. On 31 July 2008 Eric was owed $62,550 from his credit customers. What was the amount received from credit customers during the year ended 31 July 2008?

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