Question
The following are sales of The Holiday Store during February. The Store sells seasonal holiday items. Sold 50 heart balloons for $5 cash each. Sold
The following are sales of The Holiday Store during February. The Store sells seasonal holiday items. Sold 50 heart balloons for $5 cash each. Sold 100 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period. Sold 50 heart necklaces for $25 each with no discount. Have not collected as of month end. Sold 100 bouquets of roses at $30 per bouquet. Half the sales were on account. By month end, 75% of the credit sales were collected. .* Sold 20 leftover heart necklaces to a discount store for $15 each on credit. Sold a display cabinet at a swap meet for $100 on account. Determine the amount of accounts receivable for the month end.
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