The Cash Receipts Journal of the Company shows the following accounts and account balances:•Sales P 125,000•Accounts receivable 65,000•Sundry accounts (credit) 1,802,650 •Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal?

The Cash Receipts Journal of the Company shows the following accounts and account balances:•Sales P 125,000•Accounts receivable 65,000•Sundry accounts (credit) 1,802,650 •Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

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