The beginning balance in accounts receivable is $ 8,000.Sales during the period equaled $ 15,000.The ending balance in accounts receivable equals $ 2,000.What was the cash received from customers?

Question

Quizplus · Accepted Answer

To calculate the cash received from customers, you start with the beginning balance of accounts receivable, add the sales (which increases accounts receivable), and then subtract the ending balance of accounts receivable. This gives you the amount of accounts receivable that was turned into cash. So, $8,000 (beginning balance) + $15,000 (sales) - $2,000 (ending balance) = $21,000.

The Beginning Balance in Accounts Receivable Is $ 8,000