I had the question and I need your recommendation:
Receivables at 1 January 20X3 $10000 Receivables at 31 December 20X3 $9000 Total receipts during 20X3 (including cash sales of $5000) $85000 What are the sales on credit during 20X3
I did as:
Sales on credit = 85000-5000+9000=89000 But that is a wrong answer I confused that what is the difference between receivable at 1 January and at 31 December?