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Silent Knights had the following financial statement excerpts: Silent Knights Balance Sheet as at 12/31/19 2019 2018 Cash $ 36,000 $ 29,600 Accounts Receivable, gross
Silent Knights had the following financial statement excerpts:
Silent Knights Balance Sheet as at 12/31/19 | ||
2019 | 2018 | |
Cash | $ 36,000 | $ 29,600 |
Accounts Receivable, gross | 45,000 | 37,000 |
Allowance for Uncollectible Accounts | (5,000) | (4,000) |
Silent Knights Income Statement for the year ending 12/31/2019 | |
Sales (40% on account, 60% cash sales) | $ 300,000 |
Cost of Goods Sold | 210,000 |
Uncollectible account expense | 10,000 |
Interest expense | 2,000 |
For the year 2019, what is Silent Knights':
Gross Profit?
Write-offs on accounts receivable
Cash collected from credit customers
Accounts Receivable (Net)
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