A company reported Sales revenue, all from credit sales, of $40,000 on the Income Statement for the current year. The balance sheet includes the following: What is the amount of cash that was collected during the year?
A) $11,450
B) $51,450
C) $43,700
D) $38,200

Question

A company reported Sales revenue, all from credit sales, of $40,000 on the Income Statement for the current year. The balance sheet includes the following:  What is the amount of cash that was collected during the year?
A) $11,450 
B) $51,450 
C) $43,700 
D) $38,200

Quizplus · Accepted Answer

The Answer of A company reported Sales revenue, all from credit sales, of $40,000 on the Income Statement for the current year. The balance sheet includes the following:  What is the amount of cash that was collected during the year?
A) $11,450 
B) $51,450 
C) $43,700 
D) $38,200

A Company Reported Sales Revenue, All from Credit Sales, of $40,000