Answer:
Balance as on 31st December = $46,000
Explanation:
Sales October November December Balance
October <em>$70,000 </em>$14,000 $49,000 $7,000 $0
November <em>$60,000 </em>$12,000 $42,000 $6,000
December <em>$50,000 </em>$10,000 <u>$40,000</u>
Balance as on 31st December <u>$46,000</u>
<u>Workings</u>
October: 20% of 70,000 = 14,000, 70% of 70,000 = $49,000, 10% of 70,000 = $7,000
November = 20% of 60,000 = 12,000, 70% of 60,000 = $42,000, Balance = 60,000 - (12,000+42,000) = $6,000
December = 20% of 50,000 = $10,000, Balance = 50,000 - 10,000 = $40,000
