A company reported annual sales revenue of $950,000. During the year accounts receivable increased from a $84,000 beginning balance to a $96,000 ending balance. Advances from customers (Unearned revenue) decreased from a $46,000 beginning balance to a $36,000 ending balance. How much cash was collected from customers during the year? Select one: a. $938,000 b. $952,000 c. $950,000 d. $940,000 e. $928,000
A company reported annual sales revenue of $950,000. During the year accounts receivable increased from a $84,000 beginning balance to a $96,000 ending balance. Advances from customers (Unearned revenue) decreased from a $46,000 beginning balance to a $36,000 ending balance. How much cash was collected from customers during the year? Select one: a. $938,000 b. $952,000 c. $950,000 d. $940,000 e. $928,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5MC
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Question
A company reported annual sales revenue of $950,000. During the year
How much cash was collected from customers during the year?
Select one:
a. $938,000
b. $952,000
c. $950,000
d. $940,000
e. $928,000
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