Question
Trial Balance for two years of the company is represented below December 31 2015: sales 1,250,000 cost of goods sold 860,000 inventory 280,000 acc. payable
Trial Balance for two years of the company is represented below
December 31 2015:
sales 1,250,000
cost of goods sold 860,000
inventory 280,000
acc. payable 86,000
acc. receivable 124,000
December 31, 2016
sales 1,320,000
cost of goods sold 940,000
inventory 271,000
acc. payable 113,000
acc. receivable 109,000
what is the cash receipts from customers for 2016?
Step by Step Solution
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Step: 1
The cash receipts from customers for 2016 can be calculated as follows Cash receipts from cus...
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
