Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

1. On April 30, Gomez Services had an Accounts Receivable balance of $18,000. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13,000. What was the amount of credit sales during May

Sagot :

Answer:

the amount of credit sales is $47,000

Explanation:

The computation of the amount of credit sales is shown below;

= Ending balance of account receivable + cash receipts - opening balance of account receivable

= $13,000 + $52,000 - $18,000

= $47,000

Hence, the amount of credit sales is $47,000

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.