Systern Furniture Center had accounts receivable of $29,000 at the beginning of the year and $55,000 at year- end. Revenue for the year totaled $114,000. How much cash did the business collect from customers? A. $140,000 B. $114,000 C. $88,000 D. $59,000

Systern Furniture Center had accounts receivable of $29,000 at the beginning of the year and $55,000 at year- end. Revenue for the year totaled $114,000. How much cash did the business collect from customers? A. $140,000 B. $114,000 C. $88,000 D. $59,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Question

How much cash did the business collect from customers on these general accounting question?

Systern Furniture Center had accounts receivable of
$29,000 at the beginning of the year and $55,000 at year-
end. Revenue for the year totaled $114,000. How much
cash did the business collect from customers?
A. $140,000
B. $114,000
C. $88,000
D. $59,000

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