KRJ Corporation reported annual sales revenue of $7,902 million. Accounts receivable at the beginning of the year was $644 million and at the end of the year it was $524 million. How much cash (in $ millions) was received from customers during the year?

KRJ Corporation reported annual sales revenue of $7,902 million. Accounts receivable at the beginning of the year was $644 million and at the end of the year it was $524 million. How much cash (in $ millions) was received from customers during the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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