Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 6

During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000.uring the year, accounts receivable decreased by $32,000.
a.ompute for the current year the amounts of:
1.et sales reported as revenue in the income statement.
2.ash received from collecting accounts receivable.
3.ash received from customers.
b.rite a brief statement explaining why cash received from customers differs from the amount of net sales.