Mountain View Furniture had the following data for the year 2020: Accounts Receivable on January 1, 2020: $25,000 Sales on account during 2020: $200,000 Ending balance of Accounts Receivable on December 31, 2020: $40,000 what is the amount of cash collected from customers? a. $185,000 b. $205,000 c. $180,000 d. $215,000
Mountain View Furniture had the following data for the year 2020: Accounts Receivable on January 1, 2020: $25,000 Sales on account during 2020: $200,000 Ending balance of Accounts Receivable on December 31, 2020: $40,000 what is the amount of cash collected from customers? a. $185,000 b. $205,000 c. $180,000 d. $215,000
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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What is the amount of cash collected from customers on these general accounting question?

Transcribed Image Text:Mountain View Furniture had the following data for the year
2020: Accounts Receivable on January 1, 2020: $25,000 Sales
on account during 2020: $200,000 Ending balance of Accounts
Receivable on December 31, 2020: $40,000 what is the amount
of cash collected from customers?
a. $185,000
b. $205,000
c. $180,000
d. $215,000
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