ABC company has budgeted the following sales. January Sales (on Income statement) $100,000 ut of...
80.2K
Verified Solution
Link Copied!
Question
Accounting
ABC company has budgeted the following sales. January Sales (on Income statement) $100,000 ut of February $200,000 Sales are 80% credit and 20% cash Credit sales are collected 50% in the month of sale and 50% in the month following the sale A/R at Dec 31 - $85,000 What were the December credit sales? Select one: $170,000 $85,000 x not enough information is given $0 ABC company has budgeted the following sales. February ut of January $100,000 Sales (on Income statement) $200,000 Sales are 80% credit and 20% cash Credit sales are collected 50% in the month of sale and 50% in the month following the sale A/R at Dec 31 - $85,000 What were the December credit sales? Select one: $170,000 $85,000 x not enough information is given $0
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
