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Assume all sales are made on account and A/R is only related to credit sales. Beginning balance of A/R = 200, ending balance of a/r
Assume all sales are made on account and A/R is only related to credit sales. Beginning balance of A/R = 200, ending balance of a/r = 500, sales return and allowance = 100, sales discount plus cash collection = 50. What is the total gross sales amount this year? (Assuming sales returns and allowances affects a/r only, rather than being paid by cash).
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