During the year Mike's Bikes reported that accounts receivable had increased by $13 000. If accrual basis sales were $118 000 the amount of cash received from customers during the year must have been:

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When accounts receivable increase, it means that not all sales were collected in cash. To find the cash received from customers, subtract the increase in accounts receivable from the accrual basis sales: $118,000 - $13,000 = $105,000.

During the Year Mike's Bikes Reported That Accounts Receivable Had