Homework Help is Here – Start Your Trial Now!
Business
Accounting
On January 1, 2023, Sterling Tech Corp. had an Accounts Receivable balance of $25,000. The sales on account for 2023 totalled $180,000, and the ending balance of Accounts Receivable was $40,000. How much cash was collected from customers during 2023?

On January 1, 2023, Sterling Tech Corp. had an Accounts Receivable balance of $25,000. The sales on account for 2023 totalled $180,000, and the ending balance of Accounts Receivable was $40,000. How much cash was collected from customers during 2023?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...
See similar textbooks
icon
Related questions
Question
100%

How much cash was collected from customers during 2023 on these general accounting question?

On January 1, 2023, Sterling Tech Corp. had an Accounts Receivable balance of $25,000. The sales on account for 2023 totalled $180,000, and the ending balance of Accounts Receivable was $40,000. How much cash was collected from customers during 2023?
Transcribed Image Text:On January 1, 2023, Sterling Tech Corp. had an Accounts Receivable balance of $25,000. The sales on account for 2023 totalled $180,000, and the ending balance of Accounts Receivable was $40,000. How much cash was collected from customers during 2023?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS