Partial balance sheets and additional information are listed below for Julius Company. Additional information for 2013:
Net income was $70,000.
Depreciation expense was $30,000.
Sales totaled $600,000.
Cost of goods sold totaled $325,000.
Required:
Calculate the amount of cash received from customers during 2013.

Question

Partial balance sheets and additional information are listed below for Julius Company.  Additional information for 2013:
Net income was $70,000.
Depreciation expense was $30,000.
Sales totaled $600,000.
Cost of goods sold totaled $325,000.
Required:
Calculate the amount of cash received from customers during 2013.

Quizplus · Accepted Answer

The Answer of Partial balance sheets and additional information are listed below for Julius Company.  Additional information for 2013:
Net income was $70,000.
Depreciation expense was $30,000.
Sales totaled $600,000.
Cost of goods sold totaled $325,000.
Required:
Calculate the amount of cash received from customers during 2013.

Partial Balance Sheets and Additional Information Are Listed Below for Julius