Bowers Corporation reported the following ($ in 000s) for the year: $$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\text { Balance }\
\begin{array} { l l l r }
& \text { Begirning } & \text { Ending } \
\text { Accounts receivable } & \$ 600 & \$ 873
\end{array}$$ Sales on account were $1,900,000 for the year. How much cash was collected from customers on account?
A) $1,627 thousands.
B) $1,642 thousands.
C) $1,638 thousands.
D) $2,142 thousands.

Question

Bowers Corporation reported the following ($ in 000s) for the year: $$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\text { Balance }\
\begin{array} { l l l r } 
& \text { Begirning } & \text { Ending } \
\text { Accounts receivable } & \$ 600 & \$ 873
\end{array}$$ Sales on account were $1,900,000 for the year. How much cash was collected from customers on account?
A) $1,627 thousands.
B) $1,642 thousands.
C) $1,638 thousands.
D) $2,142 thousands.

Quizplus · Accepted Answer

Cash$~~~~~~~~~~~~~~~~~~~~~~~~~~1,627$
Accounts receivable$~~~~~~~~~~~~~~~~~~~~~~~~~~250$
Sales revenue$~~~~~~~~~~~~~~~~~~~~~~~~~~\colorbox{white}{1,900}$

Bowers Corporation Reported the Following ($ in 000s) for the Year