Question

Calculate amount of Opening Trade Receivables and Closing Trade Receivables from the following figures:

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Trade Receivables Turnover Ratio 5 times

Cost of Revenues from Operations Rs.8,00,000

Gross Profit Ratio 20%

Closing Trade Receivables were Rs.40,000 more than in the beginning.

Cash sales being ¼ times of credit sales.​

Answer 1

Answer:

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