Coy, Inc. initially issued 200,000 shares of $1 par stock for $1,000,000 in 2016. In 2017, the company repurchased 20,000 shares for $400,000. In 2018, 10,000 of the repurchased shares were resold for $160,000.
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Green Valley Steel had sales of $1,000,000 and collections of $760,000, leaving a balance of $240,000 in accounts receivable as of December 31, 2021. Analysis indicates it expects to collect $200,000 of its accounts receivable.
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