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Asked by Thara

Sales for the month were $650,000, 85% of sales were on account. Gross margin is 40% of sales.
14 years ago

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Answered by Mariam
Cash DR 97500.00
AC Receivable 552500.00
Sales 650000.00

Sales 650000.00
Cost of Sales 390000.00
Gross profit 260000.00
13 years ago
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Sales for the month were $650,000, 85% of sales were on account. Gross margin is 40% of sales.

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