...sales are cash sales, it makes a si? Dixie Auto Parts sells new and used auto parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2012, its first year of operations, Dixie Auto Parts experienced the following:
Sales on account $175,000
Cash sales 550,000
Collections of accounts receivable 168,000
Uncollectible accounts charged off during the year 1,200
Sales on account $175,000
Cash sales 550,000
Collections of accounts receivable 168,000
Uncollectible accounts charged off during the year 1,200