Utica Companys net accounts receivable was $250,000 at December 31, 2013, and $300,000 at December 31, 2014 Net cash sales for 2014 were $100,000 The accounts receivable turnover for 2014 was 5 0, which was computed from net credit sales for the year Required What was Uticas total net sales for 201...

Total net sales equals total credit sales plus total cash sales ...

Utica Companys net accounts receivable was $250,000 at December 31, 2013, and $300,000 at December 31, 2014.

Question:

Utica Company’s net was $250,000 at December 31, 2013, and $300,000 at December 31, 2014. Net cash sales for 2014 were $100,000. The turnover for 2014 was 5.0, which was computed from net credit sales for the year.

Required:
What was Utica’s total net sales for 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...