LRRP Company had credit sales of $650000. The beginning accounts receivable balance was $15000 and the ending accounts receivable balance was $140000. What were the cash collections from customers during the period?

Question

Quizplus · Accepted Answer

Cash collections from customers can be calculated using the formula: Cash Collections = Beginning Accounts Receivable + Credit Sales - Ending Accounts Receivable. Plugging in the given values: Cash Collections = $15,000 + $650,000 - $140,000 = $525,000.

LRRP Company Had Credit Sales of $650000