Lui Company's 2010 income statement reported total sales revenue of $250,000.The 2009-2010 comparative balance sheets showed that accounts receivable decreased by $20,000.The 2010 "cash receipts from customers" would be

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The decrease in accounts receivable by $20,000 indicates that more cash was collected than sales made. Therefore, cash receipts from customers would be $250,000 (sales) + $20,000 (decrease in accounts receivable) = $270,000.

Lui Company's 2010 Income Statement Reported Total Sales Revenue of $250,000.The