Sunrise Enterprises began the year with an accounts receivable balance of $72,000 and ended the year with an accounts receivable balance of $85,000. During the year, Sunrise Enterprises recorded $620,000 in sales on account. How much cash did Sunrise Enterprises collect from its customers during the year? Options: a. $607,000 b. $620,000 c. $635,000 d. $592,000 e. $615,000 f. $607,500

Sunrise Enterprises began the year with an accounts receivable balance of $72,000 and ended the year with an accounts receivable balance of $85,000. During the year, Sunrise Enterprises recorded $620,000 in sales on account. How much cash did Sunrise Enterprises collect from its customers during the year? Options: a. $607,000 b. $620,000 c. $635,000 d. $592,000 e. $615,000 f. $607,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5MC

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