Consider the following facts:

a. Beginning and ending Accounts Receivable are $25,000 and $27,000, respectively. Credit sales for the period total $68,000.

b. Cost of goods sold is $81,000.

c. Beginning Merchandise Inventory balance is $25,000 and ending Merchandise Inventory balance is $26,000.

d. Beginning and ending Accounts Payable are $13,000 and $10,000, respectively.

Requirements

1. Compute cash collections from customers.

2. Compute cash payments for merchandise inventory.

Consider the following facts a Beginning and ending Accounts Receivable are



Source link

Leave a Reply

Your email address will not be published.