Pierce Corporation reported a $3,600 balance in accounts receivableAccounts Receivable on January 1,2014,Year 2.During the year,$24,800 of sales on account in the amount of $24,800 were made.During the year,Price wrote off accounts receivable of $1,700 as uncollectible.If the ending balance of accounts receivableAccounts Receivable is $2,000$3,700,what is the amount of cash received from customers?
A) $21,200
B) $21,500
C) $28,400
D) $24,700

Question

Quizplus · Accepted Answer

Beginning balance + Revenue recognized on account - Cash collections from customers = Ending balance
$4,600 + $23,700 - Cash inflow from customers = $3,700
Cash inflow from customers = $4,600 + $23,700 - $3,700 = $24,700

Pierce Corporation Reported a $3,600 Balance in Accounts ReceivableAccounts Receivable