Solved

Leo Company Reported Sales of $200,000 During Year 2 A)$204,000
B)$210,000
C)$290,000
D)$190,000

Question 80

Multiple Choice

Leo Company reported sales of $200,000 during Year 2. Leo's balance sheets for Year 2 and Year 1 showed the following: Based on this information, how much cash did Leo collect from sales during Year 2?
20142013Accounts receivable $90,000$80,000Accounts payable 64,00060,000\begin{array}{|l|ll|ll|}&&2014&2013\\\hline \text {Accounts receivable }&\$ & 90,000 & \$ & 80,000 \\\hline \text {Accounts payable }& 64,000 & & 60,000 \\\hline\end{array}


A) $204,000
B) $210,000
C) $290,000
D) $190,000

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