Central Co. began the year with an accounts receivable balance of $55,000 and ended the year with an accounts receivable balance of $64,000. During the year, Central Co. recorded $440,000 in sales on account. How much cash did Central Co. collect from its customers during the year?

Central Co. began the year with an accounts receivable balance of $55,000 and ended the year with an accounts receivable balance of $64,000. During the year, Central Co. recorded $440,000 in sales on account. How much cash did Central Co. collect from its customers during the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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General accounting question

Central Co. began the year with an accounts receivable balance of
$55,000 and ended the year with an accounts receivable balance
of $64,000. During the year, Central Co. recorded $440,000 in
sales on account.
How much cash did Central Co. collect from its customers during
the year?

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