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During the financial year Delilah Limited had sales of $284 000
During the financial year Delilah Limited had sales of $284 000. The opening balance of accounts receivable was $36 000, and the closing balance was $45 000. Bad debts amounting to $2 600 were written off during the period. The cash receipts from sales during the year amounted to: Select one: O a. $275 000 O b. $284 000 O c. $272 400 d. $281 400
Expert Solution
Calculation of Cash Received from sales during the period :
Opening balance of Accounts Receivable - 36,000
Add : Sales during the Year - 2,84,000
Less: Bad Debts during the year- 2600
Less: Closing balance of Accouts Receivable- 45,000
Cash Received during the Year - 2,72,400
Hence Option C will be Right Answer and option a,b and d are wrong.
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