Sweeten Corporation had sales of $900,000.The beginning Accounts Receivable balance was $70,000 and the ending Accounts Receivable balance was $230,000.The cash collected from customers for this reporting period is:

Question

Quizplus · Accepted Answer

The cash collected from customers can be calculated using the formula:

Cash collected = Sales + Beginning Accounts Receivable - Ending Accounts Receivable

Substituting the values, we get:

Cash collected = $900,000 + $70,000 - $230,000
Cash collected = $740,000

Therefore, the correct choice is B.

Sweeten Corporation Had Sales of $900,000