A company has credit sales of $300,000 and cash sales of $180,000 during the same year that the Accounts Receivable account decreased by $40,000. What was the total of cash receipts from sales?
A. $440,000.
B. $520,000.
C. $340,000.
D. $260,000.
Answer:B
A company has credit sales of $300,000 and cash sales of $180,000 during the same year that the Accounts Receivable account decreased by $40,000. What was the total of cash receipts from sales?
A. $440,000. B. $520,000. C. $340,000. D. $260,000.