During the current year,Kelso Construction had $976,000 in cash sales and $3,552,000 in credit sales.The Accounts Receivable balance was $848,000 at the beginning of the year and $680,000 at the end of the year.What was the total cash collected from customers during the year?
A)$4,696,000
B)$4,528,000
C)$4,360,000
D)$3,720,000

Question

Quizplus · Accepted Answer

Decrease in Accounts Receivable = Beginning balance − Ending balance
= $848,000 − $680,000 = $168,000
Cash collected from customers = Cash sales + Credit sales + Decrease in Accounts Receivable = $976,000 + $3,552,000 + $168,000 = $4,696,000

During the Current Year,Kelso Construction Had $976,000 in Cash Sales