Gaines Company began 2013 with a $84,000 debit balance in its Accounts Receivable account. During the accounting period, Gaines earned revenue on account amounting to $136,000. At the end of the accounting period, the Accounts Receivable account had a balance of $34,000.
Using the above information, determine the amount of cash collected from accounts receivable during the accounting period.

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The Answer of Gaines Company began 2013 with a $84,000 debit balance in its Accounts Receivable account. During the accounting period, Gaines earned revenue on account amounting to $136,000. At the end of the accounting period, the Accounts Receivable account had a balance of $34,000.
Using the above information, determine the amount of cash collected from accounts receivable during the accounting period.

Gaines Company Began 2013 with a $84,000 Debit Balance in Its