How much is cash received from customer for the year Noble Electronics reported annual sales revenue of $3,150,000.During the year, accounts receivable increased from a $65,000beginning balance to a $85,000 ending balance. Accounts payabledecreased from a $70,000 beginning balance to a $50,000 endingbalance.How much is cash received from customers for the year?

Concept of Sales RevenueSales revenue refers to the total income a company generates from selling…

Answered: Noble Electronics reported annual sales…

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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Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Greenway Inc. reported net sales of $400,000 for the year. During the year, accounts receivable increased by $12,000. Calculate the total amount of cash collected from customers during the year.
How much cash received from customers during the year?
Accounts receivable at the beginning of the year is 720 million?
Sales reported on the income statement were $690,000. The accounts receivable balance declined $39,000 over the year. Determine the amount of cash received from customers.
The following information relates to a company’s accounts receivable: accounts receivable balance at the beginning of the year, $360,000: allowance for uncollectible accounts at the beginning, $30,000, credit sales during the year, $1,800,000; accounts receivable written off during the year $19,200; cash collections from customers; $1,740,000. the company estimates that the required year-end balance in the allowance for uncollectible accounts should be $40,080. What is the year-end gross and net accounts receivable balance?
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?
Shelby Company reported sales of $180,000 for the current year. If accounts receivable increased $24,000 during the year and unearned revenue decreased $4,000 during the year, cash collected from sales was closest to: Group of answer choices $180,000. $152, 000. $156,000.
Grant Industries had $200,000 in sales on account last year. The beginning accounts receivable balance was $15,000, and the ending accounts receivable balance was $18,000. What is the company's average collection period?
Camden Hardware’s credit sales for the year were $320,000. Accounts receivable at the beginning and end of the year were $50,000 and $70,000, respectively. Calculate the accounts receivable turnover ratio and the average collection period for the year.
General Accounting
How many days did it take simple to collect it's average level of receivable?

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