Please given answer general account Sales reported on the income statement were$282,860. The accounts receivable balancedeclined by $26,890 over the year. Determine theamount of cash received from customers.

Hello student! To calculate the cash received from customers, we can use the formula:Cash received…

Answered: Sales reported on the income statement…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

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Sales reported on the income statement were $282,860. The accounts receivable balance declined by $26,890 over the year. Determine the amount of cash received from customers.