The Art Attack Corporation reported sales revenue(accrual basis) of $52,000 for 2019. Theaccounts receivable balance was $5,500 and$4,900 at January 1, 2019, and December 31,2019, respectively. The amount of cash collectedfrom customers during 2019 was?

Explanation of Sales Revenue (Accrual Basis):Sales revenue on an accrual basis refers to the total…

Answered: The Art Attack Corporation reported…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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The Art Attack Corporation reported sales revenue (accrual basis) of $52,000 for 2019. The accounts receivable balance was $5,500 and $4,900 at January 1, 2019, and December 31, 2019, respectively. The amount of cash collected from customers during 2019 was?