Exercise 17.1 CASH RECEIVED FROM CUSTOMERS At 31 December 2016, Ruby Inc. had net accounts receivable

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Exercise 17.1 ★ CASH RECEIVED FROM CUSTOMERS At 31 December 2016, Ruby Inc. had net accounts receivable of $180 000. At 31 December 2017, accounts receivable were $220 000 and sales for the year amounted to $1 800 000. Doubtful debts expense was $55 000 for the year. Discount allowed was $35 000 for the year. Required Calculate cash received from customers by Ruby Inc. for the year ended 31 December 2017.

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Applying IFRS Standards

ISBN: 9781119159223

4th Edition

Authors: Ruth Picker, Kerry Clark, John Dunn, David Kolitz, Gilad Livne, Jance Loftus, Leo Van Der Tas

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