Bristol Corporation reported a beginning balance of $6,200 in accounts receivable.During the year,sales on account totaled $49,600.If the ending balance of accounts receivable amounts to $25,000,what was the amount of cash received from customers?

Question

Quizplus · Accepted Answer

Ending balance of accounts receivable of $25,000 = Beginning balance of accounts receivable of $6,200 + Increase due to sales on account of $49,600 - Decrease due to cash collected from customers (the unknown)
Cash collected from customers = $6,200 + $49,600 - $25,000 = $30,800

Bristol Corporation Reported a Beginning Balance of $6,200 in Accounts