Determine the amount of cash receivable Sales reportedon the incomestatement were $310,500. Theaccounts receivable balance declinedby $18,700 over the year. Determinethe amount of cash received fromcustomers.

Explanation of Sales Reported:Sales reported refer to the total revenue recognized by a company…

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 $310,500. The accounts receivable balance declined by $18,700 over the year. Determine the amount of cash received from customers.