Forum Replies Created
- AuthorPosts
- August 24, 2020 at 10:28 am #581738
I give it a try but failed,
my lv don’t even let me understand the question and what is going on.sometime I feel accounting exam really just testing our English lv istead of the accounting logic .
espeacially for student who English as a second language ,
it is hard to grap .sorry i couldn’t help,
hope you have already figured it out .Good Day .
August 24, 2020 at 10:14 am #581736You might need to post your questin to Ask the tutor forum,
the opentuition team might notice your post more quickly .August 24, 2020 at 9:42 am #581733I tried to understand and solved it by myself,
i got the same answer with John second post which is
Cash Sales = $209020Ben Co has opening trade receivables of $102,189 and closing trade receivables of $212,417. Sales made on credit totalled $554,367. Total cash received from customers during the period was $653,159.
How much were cash sales for the period?Total credit sales of the month is $554,367
but the receivable balance increased only $212,417 – $102,189 = $110,288 ,
that’s means some customer must be bought and paid in the smae month.
$554,367 – $110,228 = $444,139 ( Credit sales of the month paid before account closing )The total cash received ( Cash related only to Sales )
from customer of the month is $653,159,
from the last calculatiion we known that,
part of the $653,159 must be the payment for receivable which is $444,139.Therefore ,
$653,159 – $444,139 = $209,020 - AuthorPosts