Can you help me with accounting questions The Park Company had $850,000 of service revenue. During the sameaccounting period the beginning and ending accounts receivable balanceswere $42,000 and $38,000, respectively. What amount of cash was collectedfrom the customers during this period?A. $850,000B. $854,000C. $846,000D. $4,000

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

Answered: The Park Company 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 13MCQ

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The Park Company had $850,000 of service revenue. During the same accounting period the beginning and ending accounts receivable balances were $42,000 and $38,000, respectively. What amount of cash was collected from the customers during this period? A. $850,000 B. $854,000 C. $846,000 D. $4,000