Marke Inc. had cash sales of $400,000 and credit sales of $1,150,000. The accounts receivable balance increased $30,000 during the year. How much cash did Hark receive from its customers during the year?

Question

Quizplus · Accepted Answer

Cash received from customers = Cash sales + (Increase in accounts receivable)= $400,000 + $30,000= $430,000Total cash received = Cash received from customers + Credit sales= $430,000 + $1,150,000= $1,580,000

Marke Inc Had Cash Sales of $400,000 and Credit Sales of of $1,150,000