Ray's beginning and ending accounts receivable balances are $147,990 and $142,720, respectively. Ray's sold $3,745,060 of merchandise, of which 50%...
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Ray's beginning and ending accounts receivable balances are $147,990 and $142,720, respectively. Ray's sold

$3,745,060 of merchandise, of which 50% was on credit.


Determine the amount of cash collections for the period

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Cash Collection from Account... View the full answer

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Beginning Account Receivable S 1,47,990 Add: Credid Sales ( 3,745,050 *50%) S 18,72,530
Total Receivables S 20,20,520
Less: Ending Account Receivables S 1,42,720 Cash Collection from Account...

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