A company had a beginning balance in accounts receivable of 15,00015,00015,000 USD. At the end of the period, this balance had increased to 34,00034,00034,000 USD. Sales on account during the period were 446,000446,000446,000 USD and sales discounts were 8,9008,9008,900 USD. What was the amount of cash collected from customers during the period?
A company had a beginning balance in accounts receivable of 15,00015,00015,000 USD. At the end of the period, this balance had increased to 34,00034,00034,000 USD. Sales on account during the period were 446,000446,000446,000 USD and sales discounts were 8,9008,9008,900 USD. What was the amount of cash collected from customers during the period?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.17E
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A company had a beginning balance in accounts receivable of 15,00015,00015,000 USD. At the end of the period, this balance had increased to 34,00034,00034,000 USD. Sales on account during the period were 446,000446,000446,000 USD and sales discounts were 8,9008,9008,900 USD. What was the amount of cash collected from customers during the period?
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