Business, 24.04.2020 23:32, Astudent333
For the month of May 2017, Ceres Corporation, which uses the direct write-off method in accounting for uncollectible accounts receivable, has the following information:
Cash sales
$40,000
Cash received on accounts receivable
32,000
Accounts receivable, May 1, 2017
105,000
Accounts receivable, May 31, 2017
92,000
Accounts receivable written off as uncollectible
2,000
What are the gross sales for May 2017?
A
$61,000
B
$19,000
C
$78,000
D
$59,000
Answers: 2
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