Company G
Company G reported the following information:
$\begin{array}{llr}
\text {Accounts receivable, December 31 , Year 2 } &\$122,000\
\text { Accounts receivable, December 31, Year 1 } &113,000\
\text { Sales (all on credit) for Year 2 } &850,000
\end{array}$

-Refer to the figure Company G.How much cash was collected from customers during Year 2?

Question

Company G
Company G reported the following information:
 $\begin{array}{llr}
  \text {Accounts receivable, December 31 , Year 2  } &\$122,000\
 \text {  Accounts receivable, December 31, Year 1 } &113,000\
 \text {  Sales (all on credit) for Year 2 } &850,000
\end{array}$

-Refer to the figure Company G.How much cash was collected from customers during Year 2?

Quizplus · Accepted Answer

The cash collected from customers is calculated as: Beginning Accounts Receivable + Sales - Ending Accounts Receivable = $113,000 + $850,000 - $122,000 = $841,000.

Company G Company G Reported the Following Information -Refer to the Figure Company G

Company G
Company G Reported the Following Information -Refer to the Figure Company G