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Sauron [17]
3 years ago
12

Carmichael Inc. has a beginning balance in Accounts Receivable of $100,000 at June 1. On June 24, Carmichael sells $20,000 of me

rchandise to K. Low, terms 2/10, n/30. Assuming just this one transaction occurred, what is the ending balance in Accounts Receivable at June 30 under the gross method
Business
1 answer:
Gnom [1K]3 years ago
6 0

Answer:

$120,000

Explanation:

Particulars                                                                   Amount

Beginning balance in accounts receivables A/C    $100,000

Add: Credit sales                                                       <u>$20,000</u>

Ending balance in accounts receivables A/C        <u>$120,000</u>

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