Holly Company's accounts receivable increased during the year by $8.5 million.It had a bad debt expense of $3.0 million,and its allowance for uncollectible accounts increased by $1.5 million.What is the amount of cash received from customers if Holly's sales were $50.2 million?
A)$40.2
B)$63.5
C)$60.2
D)$37.2
E)$54.2

Question

Quizplus · Accepted Answer

50.2-8.5+1.5-3.0 = 40.2

Holly Company's Accounts Receivable Increased During the Year by $8