Ervin Company began the accounting period with $61,500 in accounts receivable. The ending balance in accounts receivable was $23,000. If the credit sales during the period were $148,000, what is the amount of cash received from customers?
A)$61,500
B)$148,000
C)$186,500
D)$232,500

Question

Quizplus · Accepted Answer

The cash received from customers is calculated as: Beginning Accounts Receivable + Credit Sales - Ending Accounts Receivable = $61,500 + $148,000 - $23,000 = $186,500.

Ervin Company Began the Accounting Period with $61,500 in Accounts