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.

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.

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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