Caler Corp.reported the following information for 2016 and 2017. $\begin{array}{lr}
\text { Accounts receivable, December } 31,2016 & \$ 67,000 \
\text { Accounts receivable, December 31,2017 } & 63,000 \
\text { Sales (all on credit) -2017 } & 745,000
\end{array}$ How much cash was collected from customers during 2017?
A) $741,000
B) $745,000
C) $749,000
D) $753,000

Question

Quizplus · Accepted Answer

To calculate the cash collected from customers during 2017, we use the formula: Cash Collected = Sales on Credit + Beginning Accounts Receivable - Ending Accounts Receivable. Plugging in the values: $745,000 + $67,000 - $63,000 = $749,000.

Caler Corp How Much Cash Was Collected from Customers During 2017? A)

Caler Corp How Much Cash Was Collected from Customers During 2017?
A)