Lagos Corp.recorded sales of $345,000 in 2010.In addition,its accounts receivable and accounts payable balances at the beginning and end of 2010 were as follows: How much cash did Lagos collect from customers in 2010?

Name: Lagos Corp.recorded sales of $345,000 in 2010.In addition,its accounts receivable and accounts payable balances at the beginning and end of 2010 were as follows: How much cash did Lagos collect from customers in 2010?
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Question

Lagos Corp.recorded sales of $345,000 in 2010.In addition,its accounts receivable and accounts payable balances at the beginning and end of 2010 were as follows:  How much cash did Lagos collect from customers in 2010?

Quizplus · Accepted Answer

$345,000 +$65,000 - $90,000 = $320,000