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What are the gross sales for the month of december

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Question - For the month of December, the records of Balin Corporation show the following information:

Cash received on accounts receivable .................. $ 70,000

Cash sales ............................................ 60,000

Accounts Receivable, December 1 ....................... 160,000

Accounts Receivable, December 31 ...................... 148,000

Accounts Receivable written off as uncollectible ...... 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) $118,000

B) $120,000

C) $130,000

D) $144,000

Please explain why the answers are incorrect and why the correct one is right.

Reference no: EM131819661

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