Question: On January 1, 2022, Accounts Receivable was $25,000. Sales on account for 2022 totaled $180,000. The ending balance of Accounts Receivable was $40,000. What is the amount of cash collected from customers? a. $165,000 b. $180,000 c. $165,000 d. $145,000

Question: On January 1, 2022, Accounts Receivable was $25,000. Sales on account for 2022 totaled $180,000. The ending balance of Accounts Receivable was $40,000. What is the amount of cash collected from customers? a. $165,000 b. $180,000 c. $165,000 d. $145,000

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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Question:
On January 1, 2022, Accounts Receivable was $25,000. Sales on account for 2022 totaled $180,000.
The ending balance of Accounts Receivable was $40,000.
What is the amount of cash collected from customers?
a. $165,000
b. $180,000
c. $165,000
d. $145,000

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