RECEIVABLESForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › RECEIVABLESThis topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts November 16, 2015 at 12:07 pm #282821 samara182MemberTopics: 6Replies: 6☆Receivables at 1/1/20X3 10000$ Receivables 31/12/20X3 9000$ Total receipts during 20X3 (including 5000$ cash sales) 85000$What was the sales revenue figure for 20X3?The given answer says 84000$And the calculation is Total receipts 85000 + C/F 31/12/20X3 9000 = 94000$ 940000 – 10000 = 84000My question is, why is the whole amount of receipts included on the trade receivables T account even though it includes cash sales? November 16, 2015 at 8:00 pm #283113 John MoffatKeymasterTopics: 57Replies: 54628☆☆☆☆☆Why have you asked this in the F2 forum? It is only relevant for Paper F3 🙂You will get the same answer even if you treat the cash sales separately.If you ignore initially the cash sales, then the credit sales are 80,000 + 9,000 – 10,000 = 79,000.In addition there are cash sales of 5,000.So the total sales revenue is 79,000 + 5,000 = 84,000.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In