Pinto Corporation reported sales of $895,000 and its accounts receivable balance decreased $13,500 during the same period.Cash collections from customers for the period were:

Name: Pinto Corporation reported sales of $895,000 and its accounts receivable balance decreased $13,500 during the same period.Cash collections from customers for the period were:
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

Cash collections from customers are calculated by adding the decrease in accounts receivable to the sales. Therefore, $895,000 + $13,500 = $908,500.

Pinto Corporation Reported Sales of $895,000 and Its Accounts Receivable