#5 question 1

Citron Mechanical Systems makes all sales on credit, with terms 1/15, N/30. During the year, the list price (prediscount) of services provided was $637,500. Customers paid $481,800 (list price) of these sales within the discount period and the remaining $205,700 (list price) after the discount period. Ctron uses the net method af recording sales. Required: 1. Compute the amount of sales that Citron recorded for the year. 2. Compute the amount of cash that Citron collected from these sales