Crete Carrier Corporation reported sales revenue of $1,724,000,accounts receivable of $179,000 at the beginning of the year,and accounts receivable of $201,000 at the end of the year.Cash collections from customers during the year were:

Question

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The cash collections can be calculated using the formula: Beginning Accounts Receivable + Sales Revenue - Ending Accounts Receivable = Cash Collections. Thus, $179,000 + $1,724,000 - $201,000 = $1,702,000.

Crete Carrier Corporation Reported Sales Revenue of $1,724,000,accounts Receivable of $179,000