Homework Answers
Question 7:
The correct answer is $221,400 Increase.
Supporting calculations:
| Credit sales | $568,000 |
| Less: Collections on account | ($339,000) |
| Less: Collections from written off | ($7,600) |
| Increase in Ending Accounts Receivable | $221,400 |
Therefore, increase in ending accounts receivable is $221,400.
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