How much is cash received from customer for the year? General Accounting question A retail store had annual sales of $1,820,000. Theiraccounts receivable increased from $43,000 to $78,000during the year, while accounts payable decreased from$62,000 to $41,000. How much is cash received fromcustomers for the year?a. $1,785,000b. $1,820,000c. $1,855,000d. $1,799,000

Step 1: Define Cash Received from CustomersCash received from customers represents the actual cash…

Answered: A retail store had annual sales of…

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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General Accounting

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A retail store had annual sales of $1,820,000. Their accounts receivable increased from $43,000 to $78,000 during the year, while accounts payable decreased from $62,000 to $41,000. How much is cash received from customers for the year? a. $1,785,000 b. $1,820,000 c. $1,855,000 d. $1,799,000