Answered: Accrual sales Accounts receivable:…

Accrual sales Accounts receivable: January 1 December 31 Advances from customers: January 1 December 31 5,000,000 800,000 500,000 300,000 400,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

16. Elaine Company experienced the following changes in selected accounts for the current year as reflected below. What total amount of cash was received from customers during the year?

a. 5,400,000

b. 5,300,000

c. 4,800,000

d. 4,600,000

Accrual sales
Accounts receivable:
January 1
December 31
Advances from customers:
January 1
December 31
5,000,000
800,000
500,000
300,000
400,000

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