On January 1, 2015, Accounts Receivable was $37,000. Sales on account for 2015 totaled $196,000. The ending balance of Accounts Receivable was $66,000. What is the amount of cash collected from customers?
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- On January 1, 2015, Accounts Receivable was $37,000. Sales on account for 2015 totaled $196,000. The ending balance of Accounts Receivable was $66,000. What is the amount of cash collected from customers?On January 1, 2015, Accounts Receivable was $37,000. Sales on account for 2015 totaled $196,000. The ending balance of Accounts Receivable was $66,000. What is the amount of cash collected from customers? AccountingOn January 1, 2015, Accounts Receivable was $37,000. Sales on account for 2015 totaled $196,000. The ending balance of Accounts Receivable was $66,000. What is the amount of cash collected from customers? Correct Answer
- On January 1, 2015, Accounts Receivable was $20,000. Sales on account for 2015 totaled $160,000. The ending balance of Accounts Receivable was $32,000. What is the amount of cash collected from customers? a. $128,000 b. $148,000 c. $172,000 d. $180,000The amount of Cash?7.11: For the month of May 2015, Ceres Corporation, which uses the direct write-off method in accounting for uncollectible accounts receivable, has the following information:Cash sales$40,000Cash received on accounts receivable32,000Accounts receivable, May 1, 2015105,000Accounts receivable, May 31, 201592,000Accounts receivable written off as uncollectible2,000What are the gross sales for May 2015? A : $19,000 B : $61,000 C : $59,000 D : $78,000