2019 2020 2019 2020 Cash $2,800 $4,100 Accounts payable $2,200 $2,500 Accounts receivable $3,900 $3,100 Utilities payable $2,600 $3,200 Inventory $8,500 $9,700 Salaries payable $3,100 $3,800 Prepaid insurance $800 $1,100 Notes payable $24,000 $23,000 Equipment $32,000 $32,000 Interest payable $2,600 $2,800 Accum. depreciation ($4,800) ($6,000) Common stock $12,000 $12,000 Land $6,000 $7,500 Retained earnings $2,700 $4,200 $49,200 $51,500 $49,200 $51,500 Given the above information, how much cash was collected from customers during 2020 if total iales were $61,000? $59,700 $61,800 $62,300 $60,200 None of the above

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 4.12C
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2019
2020
2019
2020
Cash
$2,800
$4,100
Accounts payable
$2,200
$2,500
Accounts receivable
$3,900
$3,100
Utilities payable
$2,600
$3,200
nventory
$8,500
$9,700
Salaries payable
$3,100
$3,800
Prepaid insurance
$800
$1,100
Notes payable
$24,000
$23,000
Equipment
$32,000 $32,000
Interest payable
$2,600
$2,800
Accum. depreciation
($4,800) ($6,000)
Common stock
$12,000 $12,000
Land
$6,000
$7,500
Retained earnings
$2,700
$4,200
$49,200
$51,500
$49,200 $51,500
Given the above information, how much cash was collected from customers during 2020 if total
iales were $61,000?
$59,700
$61,800
$62,300
O $60,200
None of the above
Transcribed Image Text:2019 2020 2019 2020 Cash $2,800 $4,100 Accounts payable $2,200 $2,500 Accounts receivable $3,900 $3,100 Utilities payable $2,600 $3,200 nventory $8,500 $9,700 Salaries payable $3,100 $3,800 Prepaid insurance $800 $1,100 Notes payable $24,000 $23,000 Equipment $32,000 $32,000 Interest payable $2,600 $2,800 Accum. depreciation ($4,800) ($6,000) Common stock $12,000 $12,000 Land $6,000 $7,500 Retained earnings $2,700 $4,200 $49,200 $51,500 $49,200 $51,500 Given the above information, how much cash was collected from customers during 2020 if total iales were $61,000? $59,700 $61,800 $62,300 O $60,200 None of the above
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