Horizon Company started 2023 with $85,000 in accounts receivable. Sales for 2023 were $525,000, and the accounts receivable balance at December 31, 2023, was $105,000. What was the amount of cash collected from customers during 2023?
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- Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?Suppose Columbia Sportswear Company had accounts receivable of $277,236,000 at January 1, 2022, and $237,235,000 at December 31, 2022. Assume sales revenue was $1,345,870,000 for the year 2022.What is the amount of cash receipts from customers in 2022?
- . In its income statement for the year ended December 31, 2020, Angel Company reported revenue of P5,000,000. The accounts receivable at January 1 is P300,000; Uncollectible accounts written off is P20,000; and accounts receivable at December 31 is P200,000. How much revenue will be reported under the cash basis of accounting? *Luma Corp. had net credit sales of $2,400,000 in 2023. The beginning accounts receivable balance was $180,000, and the ending balance was $210,000. (a) What is the receivables turnover? (b) What is the average collection period in days?Suppose Columbia Sportswear Company had accounts receivable of $359,502,000 at January 1, 2022, and $271,857,600 at December 31, 2022. Assume sales revenue was $1,492,827,600 for the year 2022. What is the amount of cash receipts from customers in 2022? The amount of cash receipts from customers in 2017 $
- During 2020, A Company, a service organization, had P200,000 in cash sales and P3,000,000 in credit sales. The accounts receivable balances were P400,000 and P485,000 at December 31, 2019 and 2020, respectively. If A desires to prepare a cash basis income statement, how much should be reported as sales for 2020 on a cash basis?Answer? ? Financial accounting questioncan you help me with