Question
January February March Cash Sales 5,000 6,000 4,000 Sales on account 10,000 12,000 16,000 Total sales 15,000 18,000 20,000 Ally Clay Company has the following
| January | February | March | |
| Cash Sales | 5,000 | 6,000 | 4,000 |
| Sales on account | 10,000 | 12,000 | 16,000 |
| Total sales | 15,000 | 18,000 | 20,000 |
Ally Clay Company has the following sales for the first quarter of 2022:
Sales on account are collected the month after the sale. The Accounts Receivable balance on January 1 is $7,000, the amount of December 2021s sales on account. Calculate the cash receipts from customers for the first 3 months of 2022.
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Introduction To Government And Not For Profit Accounting
Authors: Martin Ives, Laurence Johnson, Joseph R. Razek, Gordon A. Hosch
6th Edition
0132366355, 978-0132366359
