A company reported sales revenue,all of which arose from credit sales,of $40,000 on the income statement.Balance sheet information includes the following:

How much cash was collected from customers during the year?
A) $11,450.
B) $51,450.
C) $43,700.
D) $38,200.

Question

A company reported sales revenue,all of which arose from credit sales,of $40,000 on the income statement.Balance sheet information includes the following:

How much cash was collected from customers during the year?
A) $11,450. 
B) $51,450. 
C) $43,700. 
D) $38,200.

Quizplus · Accepted Answer

The Answer of A company reported sales revenue,all of which arose from credit sales,of $40,000 on the income statement.Balance sheet information includes the following:

How much cash was collected from customers during the year?
A) $11,450. 
B) $51,450. 
C) $43,700. 
D) $38,200.

A Company Reported Sales Revenue,all of Which Arose from Credit