Quick answer of this general accounting question The Chen Corporation had $850,000 of sales revenue. During the sameaccounting period the beginning and ending accounts receivablebalances were $45,000 and $38,000, respectively. What amount of cashwas collected from the customers during this period?A. $857,000B. $850,000C. $843,000D. $7,000

Step 1: Definition of Cash Collected from CustomersCash collected from customers represents the…

Answered: The Chen Corporation had $850,000 of…

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 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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The Chen Corporation had $850,000 of sales revenue. During the same accounting period the beginning and ending accounts receivable balances were $45,000 and $38,000, respectively. What amount of cash was collected from the customers during this period? A. $857,000 B. $850,000 C. $843,000 D. $7,000