I need answer of this question solution general accounting Java Love, a large organic coffee company, reported a balance of$1,600 million in Accounts Receivable at the beginning of 2012and $1,500 million at the end of 2012. Its income statementreported total Sales Revenue of $12,000 million and total Cost ofGoods Sold as $8,000 million for 2012.Assuming that Java Love makes all sales on account, compute theamount of cash collected from customers during 2012.

Step 1: Define Accounts receivableAccounts receivable are part of the resources that the business…

Answered: Java Love, a large organic coffee…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 42P

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15. Zeta Company reported sales revenue of P4,600,000 in its income statement for the year ended December 31, 2011. Additional information is given below. Under the cash basis of accounting, what amount should be reported as sales revenue for 2011? a. 4,900,000 b. 4,350,000 c. 4,300,000 d. 4,280,000

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