Question
Andrew Company sold goods to customers in 2017 at selling price of $1,800,000.60% of the customers paid on account, and from these, the company collected
Andrew Company sold goods to customers in 2017 at selling price of $1,800,000.60% of the customers paid on account, and from these, the company collected 80% of amounts owing during 2017.How much cash was collected from customers in 2017?
a. $864,000
b. $1,080,000
c. None of the other answers is correct.
d. $1,584,000
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Accounting for Decision Making and Control
Authors: Jerold Zimmerman
9th edition
125956455X, 978-1259564550
