Ellis Enterprises had accounts receivable of $80,000 at January 1, 2023. At December 31, 2023, accounts receivable was $60,000. Sales for 2023 totaled $500,000. Compute Ellis Enterprises' 2023 cash receipts from customers.
Ellis Enterprises had accounts receivable of $80,000 at January 1, 2023. At December 31, 2023, accounts receivable was $60,000. Sales for 2023 totaled $500,000. Compute Ellis Enterprises' 2023 cash receipts from customers.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...
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Compute Ellis Enterprises 2023 cash receipt from customer.

Transcribed Image Text:Ellis Enterprises had accounts receivable
of $80,000 at January 1, 2023. At
December 31, 2023, accounts receivable
was $60,000. Sales for 2023 totaled
$500,000. Compute Ellis Enterprises'
2023 cash receipts from customers.
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