Cash flow from operations (data includes bad and doubtful debts) The following information is taken from the
Question:
Cash flow from operations (data includes bad and doubtful debts)
The following information is taken from the accounts of Registration Ltd for the year ended 31 December 2022:
$
Accounts receivable, 1 January 2022 95 000 Accounts receivable, 31 December 2022 70 000 Allowance for doubtful debts, 1 January 2022 13 000 Allowance for doubtful debts, 31 December 2022 5 000 Inventory, 1 January 2022 90 000 Inventory, 31 December 2022 95 000 Accounts payable, 1 January 2022 70 000 Accounts payable, 31 December 2022 60 000 Credit sales 300 000 Cash sales 160 000 COGS 420 000 Bad debts expense 12 000 1 What was the amount of cash received from customers?
2 What was the amount of cash paid to suppliers?
Step by Step Answer:
Fundamentals Of Accounting And Financial Management
ISBN: 9780170454797
8th Edition
Authors: Professor Ken Trotman, Kerry Humphreys