A company had an accounts receivable balance of $12,500 at the beginning of the month and a balance of $5,400 at the end of the month. During the month, the company made $38,000 in credit sales. What is the amount of cash collected from customers during the month, assuming all sales were on credit?

A company had an accounts receivable balance of $12,500 at the beginning of the month and a balance of $5,400 at the end of the month. During the month, the company made $38,000 in credit sales. What is the amount of cash collected from customers during the month, assuming all sales were on credit?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....

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Question

Please provide the correct answer to this financial accounting problem using valid calculations.

A company had an accounts receivable balance of $12,500 at the
beginning of the month and a balance of $5,400 at the end of
the month. During the month, the company made $38,000 in
credit sales.
What is the amount of cash collected from customers during the
month, assuming all sales were on credit?

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