Mauve Ltd has the following balances. For the year to 30 June 2023, Sales amounted to ($3)
Question:
Mauve Ltd has the following balances.
For the year to 30 June 2023, Sales amounted to \($3\) 500 000, doubtful debts expense was \($75\) 000, discount allowed was \($45\) 000, and cost of sales was \($2\) 400 000.
Required
1. Determine cash received from customers of Mauve Ltd for the year ended 30 June 2023.
2. Determine cash paid to suppliers of Mauve Ltd for the year ended 30 June 2023.
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1 Cash receipts from customers Formula Cash received from customers sales increase in accounts rece...View the full answer
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