Restless Company's 20B income statement reported total sales revenue of $100,000.The 20A-20B,comparative statements of financial position showed that trade receivables decreased by $10,000.What were the 20B "cash receipts from customers"?
A)$80,000.
B)$90,000.
C)$100,000.
D)$110,000.

Question

Quizplus · Accepted Answer

The decrease in trade receivables by $10,000 indicates that more cash was collected than sales made. Therefore, cash receipts from customers would be $100,000 (sales revenue) + $10,000 (decrease in receivables) = $110,000.

Restless Company's 20B Income Statement Reported Total Sales Revenue of $100,000.The