From the information provided below, determine the amount of cash received from customers during 2019.
$$\begin{array} { l r }
\text { Accounts receivable (31-Dec-2018) } & \$ 23000 \
\text { Accounts receivable (31-Dec-2019) } & 31000 \
\text { Sales } & 270000
\end{array}$$

Question

From the information provided below, determine the amount of cash received from customers during 2019.
$$\begin{array} { l r } 
\text { Accounts receivable (31-Dec-2018) } & \$ 23000 \
\text { Accounts receivable (31-Dec-2019) } & 31000 \
\text { Sales } & 270000
\end{array}$$

Quizplus · Accepted Answer

The cash received from customers is calculated by adjusting the sales figure for the change in accounts receivable. The accounts receivable increased by $8,000 ($31,000 - $23,000), indicating that not all sales were collected in cash. Therefore, cash received = Sales - Increase in Accounts Receivable = $270,000 - $8,000 = $262,000.

From the Information Provided Below, Determine the Amount of Cash