Question
The following information is available for Sanchez Company for its 2019 operations: Accounts receivable, January 1, 2019 $ 40,000 Accounts receivable collected during 2019 84,000
- The following information is available for Sanchez Company for its 2019 operations:
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| Accounts receivable, January 1, 2019 | $ 40,000 | |||
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| Accounts receivable collected during 2019 | 84,000 | |||
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| Cash sales during 2019 |
| 20,000 | ||
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| Inventory, January 1, 2019 |
| 48,000 | ||
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| Inventory, December 31, 2019 |
| 44,000 | ||
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| Purchases of inventory during 2019 | 80,000 | |||
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| Gross profit on sales |
| 42,000 | ||
What is Sanchezs accounts receivable balance at December 31, 2019?
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Project Management Accounting Budgeting Tracking And Reporting Costs And Profitability
Authors: Kevin R. Callahan, Gary S. Stetz, Lynn M. Brooks
1st Edition
0470044691, 978-0470044698
