Provide correct answer Kensington Industries reported annualsales revenue of $9,450 million. Accountsreceivable at the beginning of the yearwas $720 million, and at the end of theyear, it was $590 million.How much cash (in $ millions) wasreceived from customers during the year?

Explanation of Sales Revenue: Sales revenue represents the total amount of money a company earns…

Answered: Kensington Industries reported annual…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5MC

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Kensington Industries reported annual sales revenue of $9,450 million. Accounts receivable at the beginning of the year was $720 million, and at the end of the year, it was $590 million. How much cash (in $ millions) was received from customers during the year?