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    Financial accounting :Net sales

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    Utica company's net accounts receivable was $250,000 at December 31, 2004 and $300,000 at December 31,2005. Net cash sales for 2005 were $100,000. The accounts receivable turnover for 2005 was 5.0, and this turnover figure was computed from net credit sales for the year.

    Required:

    What was Utica's net sales for 2005?

    © BrainMass Inc. brainmass.com June 3, 2020, 6:48 pm ad1c9bdddf
    https://brainmass.com/business/financial-accounting-bookkeeping/financial-accounting-determining-net-sales-76229

    Solution Preview

    Hello,
    Average Accounts Receivables= (250000+300000)/2 ...

    Solution Summary

    Utica's net sales for the period is calculated in this solution.

    $2.19

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