no work shown required A company's 2019 income statement reported total sales revenue of $1,200,000; accounts receivable increased by $25,000 and the unearnedrevenue account decreased $15,000 during 2019. How much cash was collected from customers during 2019?O A. $1,160,000O B. $1,175,000O C. $1,225,000O D. $1,185,000 Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginningof the year and a balance of $840,000 at the end of the year. Net credit sales during the yearamounted to $6,800,000.Instructions: Calculate the average collection period (DAYS). Only record the number andround to one decimal.

Cash collected during the year is dependent upon the unearned revenue as well as increase or…

A company's 2019 income statement reported total sales revenue of $1,200,000; accounts receivable increased by $25,000 and the unearned revenue account decreased $15,000 during 2019. How much cash was collected from customers during 2019? O A. $1,160,000 O B. $1,175,000 OC.$1,225,000 O D.$1,185,000

A company's 2019 income statement reported total sales revenue of $1,200,000; accounts receivable increased by $25,000 and the unearned revenue account decreased $15,000 during 2019. How much cash was collected from customers during 2019? O A. $1,160,000 O B. $1,175,000 OC.$1,225,000 O D.$1,185,000

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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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

no work shown required

A company's 2019 income statement reported total sales revenue of $1,200,000; accounts receivable increased by $25,000 and the unearned
revenue account decreased $15,000 during 2019. How much cash was collected from customers during 2019?
O A. $1,160,000
O B. $1,175,000
O C. $1,225,000
O D. $1,185,000

Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning
of the year and a balance of $840,000 at the end of the year. Net credit sales during the year
amounted to $6,800,000.
Instructions: Calculate the average collection period (DAYS). Only record the number and
round to one decimal.

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