Parton Inc.. reported accounting service revenue of $450,000 for 2009. On January 1, 2009, Parton Inc. had $38,000 of accounts receivable and $0 of cash deposits received from customers. On December 31, 2009, accounts receivable and deposits received were $49,000 and $6,000, respectively. Calculate the amount of cash collected from clients during 2009.

Question

Quizplus · Accepted Answer

The Answer of Parton Inc.. reported accounting service revenue of $450,000 for 2009. On January 1, 2009, Parton Inc. had $38,000 of accounts receivable and $0 of cash deposits received from customers. On December 31, 2009, accounts receivable and deposits received were $49,000 and $6,000, respectively. Calculate the amount of cash collected from clients during 2009.