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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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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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