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The following sales are expected over the Four-month period from December 2019 to Mar 2020 Purchases Sales Dec-2019 OMR 30000 OMR 26000 Jan-2020 OMR 25000
The following sales are expected over the Four-month period from December 2019 to Mar 2020 Purchases Sales Dec-2019 OMR 30000 OMR 26000 Jan-2020 OMR 25000 OMR 30000 Feb-2020 OMR 24000 OMR 24000 Mar-2020 OMR 26000 OMR 28000 Additional Information: 1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred 2.30% of the Sales are on credit and we allow one-month credit period and 70% of the sales for immediate settlement 3.40% of the Purchases are on credit - and 1 month credit period - and 60% of the purchases are for immediate settlement 4. The balance at the bank as at 31 December 2019 was OMR 8000 What will be the closing balance of cash on March 2020? Select one a. None of the options b. OMR 7200 COMR 7800 d. OMR 6800
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