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Ket [755]
3 years ago
13

On April 30, Gomez Services had an Accounts Receivable balance of $24,600. During the month of May, total credits to Accounts Re

ceivable were $59,200 from customer payments. The May 31 Accounts Receivable balance was $19,000. What was the amount of credit sales during May?
Business
1 answer:
Nataliya [291]3 years ago
4 0

Answer: $53,600

Explanation:

Credit sales increase the balance on Accounts Receivables because they represent that people owe the business.

It is therefore included in the formula for calculating the ending balance of Accounts Receivables:

Ending accounts receivables = Beginning accounts receivable + Credit sales in May - Customer payments during May

19,000 = 24,600 + Credit Sales in May - 59,200

Credit Sales in May = 19,000 + 59,200 - 24,600

= $53,600

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3 years ago
Which of the following is not a way to improve your credit?
inessss [21]

The way where the credit is not improved is that if we moving the debt around.

Information related to the credit score & creditworthiness:

  • The credit score is the mathematical expression that depends upon your creditworthiness.
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The credit should be improved by:

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But if the debt is moving around so this does not improve your credit.

Therefore we can conclude that the way where the credit is not improved is that if we moving the debt around.

Learn more about creditworthiness here: brainly.com/question/2254218

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3 years ago
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Activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including exp
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Answer:

D. Operating activities.

Explanation:

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Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.

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A company issued 115 shares of $100 par value common stock for $12,500 cash. the total amount of paid-in capital is:
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A company issued 115 shares of $100 par value

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Total amount of paid-in capital = ?

Multiply the shares with amount par value =

Amount of shares = 115 x 100 = $11,500

Total amount of paid-in capital = common stock value - total amount of shares = $12,500 - $11,500

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So, total amount paid in capital is $1000.

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TB MC Qu. 12-144 Stormer Company reports the following... Stormer Company reports the following amounts on its statement of cash
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Answer:

hi

Explanation:

Hi

You want

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