On January 1, 2023, Accounts Receivable was $45,000. Sales on account for 2023 totaled $295,000. The ending balance of Accounts Receivable was $62,000. What is the amount of cash collected from customers? a. $233,000 b. $250,000 c. $278,000 d. $312,000

On January 1, 2023, Accounts Receivable was $45,000. Sales on account for 2023 totaled $295,000. The ending balance of Accounts Receivable was $62,000. What is the amount of cash collected from customers? a. $233,000 b. $250,000 c. $278,000 d. $312,000

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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On January 1, 2023, Accounts Receivable was $45,000. Sales on account for
2023 totaled $295,000. The ending balance of Accounts Receivable was
$62,000.
What is the amount of cash collected from customers?
a. $233,000
b. $250,000
c. $278,000
d. $312,000

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