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For the month of December, the records of Scrooge Corporation show the following information: Cash received on accounts receivable $45,000 Cash sales 30,000 Accounts receivable, December 1 80,000 Accounts receivable, December 31 75,000 Accounts receivable written off 2,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of December? a.$72,000 b.$61,000 c.$59,000 d.$60,000

For the month of December, the records of Scrooge Corporation show the following information: Cash received on accounts receivable $45,000 Cash sales 30,000 Accounts receivable, December 1 80,000 Accounts receivable, December 31 75,000 Accounts receivable written off 2,000 The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of December? a.$72,000 b.$61,000 c.$59,000 d.$60,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...
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For the month of December, the records of Scrooge Corporation show the following information:
Cash received on accounts receivable $45,000
Cash sales 30,000
Accounts receivable, December 1 80,000
Accounts receivable, December 31 75,000
Accounts receivable written off 2,000

The corporation uses the direct write-off method in accounting for uncollectible accounts receivable. What are the gross sales for the month of December?

a.$72,000

b.$61,000

c.$59,000

d.$60,000

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