Question
Hampton Industries began December with $17.5 million in accounts receivables. During the month it collected $3.5 million from customers who had previously purchased on credit
Hampton Industries began December with $17.5 million in accounts receivables. During the month it collected $3.5 million from customers who had previously purchased on credit and it sold $5 million in merchandise on credit. What is Hampton’s accounts receivables balance at the end of the month?
- $9 million
- $16 million
- $19 million
- $26 million
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
