The Accounts Receivable account has a beginning balance of $24,000 and the company pe $60,000 on account during the month. The ending balance was $18,000o. How much did the company receive from customers during the month? - $6,000. $66,000. $102,000. 554,000.

The Accounts Receivable account has a beginning balance of $24,000 and the company pe $60,000 on account during the month. The ending balance was $18,000o. How much did the company receive from customers during the month? - $6,000. $66,000. $102,000. 554,000.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

The Accounts Receivable account has a beginning balance of $24,000 and the company provdes serices of
$60,000 on account during the month. The ending balance was $18,00o.
How much did the company receive from customers during the month?
O $6,000.
O $66,000.
O $102,000.
$54,000.
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