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JW has receivables of 37,500 at the start, and 39,000 at the end, of its year ended 31 December 2020. During the period, cash sales
JW has receivables of 37,500 at the start, and 39,000 at the end, of its year ended 31 December 2020.
During the period, cash sales of 263,500 and credit sales of 357,500 were made, discounts allowed amounted to 15,750 and discounts received were 21,400. Irrecoverable debts of 10,500 were written off and JW wishes to retain its allowance for receivables at 5% of total receivables.
The cash received from sales on credit in the year totalled
A 329,750
B 593,175
C 593,250
D 614,650
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