At January 1, 2023, Blue Ridge Manufacturing Inc. had accounts receivable of $125,000. At December 31, 2023, accounts receivable is $98,000. Sales for 2023 total $580,000. Compute Blue Ridge Manufacturing's 2023 cash receipts from customers.
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- Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019, and $26,850 at December 31, 2019. Net income for 2019 was $125,300 and sales revenue was $1,240,000. Required: Compute the amount of cash collected from customers using the direct method.Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400Can you please give answer the general accounting question?
- In its March 31, 2021, financial statements, Tennyson Enterprises Inc. reported a beginning accounts receivable balance of $425,000 and an ending accounts receivable balance of $510,000. Tennyson reported sales for the year ended March 31, 2021, of $5,320,000. All sales are on credit. Required: Calculate the amount of cash Tennyson Enterprises Inc. collected from customers during fiscal 2021.Calculate the amount of cash Apex collected from customer's during fiscal 2023. Accountingkany company reported net income of $78,000 and sales of $219,000at December 31, 2020, Kathy also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Kathy will report cash collected from customers in its 2020 statement of cash flows (direct method) in the amount of:
- 6. At January 1, 2020, Teal Inc. had accounts receivable of $73,000. At December 31, 2020, accounts receivable is $54,000. Sales revenue for 2020 total $451,000.Compute Teal’s 2020 cash receipts from customers. Cash receipts from customers $n its CASH BASIS income statement for the year ended June 30, 2020, Selena Corp. reported revenue of $142,000 (i.e., total cash receipts from sales). Additional information was as follows: Accounts receivable June 30, 2019 $40,000 Accounts receivable June 30, 2020 $45,600 Under the ACCRUAL basis, Selena Corp. should report sales revenue of A. $147,600 B. $102,000 C. $182,000 D. $136,400Cash Balance?