Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. andrew company sold goods to customers in 2017 at

Andrew Company sold goods to customers in 2017 at selling price of $1,800,000. 60% of...

70.2K

Verified Solution

Question

Accounting

Andrew Company sold goods to customers in 2017 at selling price of $1,800,000. 60% of the customers paid on account, and from these, the company collected 80% of amounts owing during 2017. How much cash was collected from customers in 2017?

a)$1,080,000

b)$1,584,000

c)None of the other answers is correct.

d)$864,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Please write about these questions like a small paragraph answering he questions below: Do you think that...

Mechanical Engineering
1.2K views

1 – Calculate the adiabatic flame temperature of propane combustion with 50% excess air. 2– Use an online adiabatic...

Biology
1.2K views

Question 2 How many district courts are in the United States 94 50 Points 1...

Basic Math
1.2K views

When solving an absolute value equation, such as [2x+3|= 17, it is important tocreate two...

Accounting
1.2K views

Closing Entries After the accounts have been adjusted at September 30, the end of...

Accounting
1.2K views

Tiger Co. had a non-eligible RDTOH (NERDTOH) balance of $15,000 at the end of 2019,...

Accounting
1.2K views

On December 31, 2020, the Frisbee Company had 262,000 shares of common stock issued and...

Accounting
1.2K views

Ladanza Corporation is a wholesaler that sells a single product. Management has provided the following...

Accounting
1.2K views

Carla Corporation operates in an industry that has a high rate of bad debts. Before...

Finance
1.2K views

Answer the next question on the basis of the following consolidated balance sheet of the...

Accounting
1.2K views

ORIOLE Ltd. had earnings per share of $4 as of December 31, 2022, but paid...

Finance
1.2K views

Evelyn initially borrowed $3,800 from Tangerine Bank at 3.91% compounded semiannually. After 4 years she...