On January 1, 2013, the balance of Jackson Corporation's Accounts Receivable was $20,000. Sales on account for 2013 amounted to $160,000 and the ending balance of Accounts Receivable was $32,000. What is the amount of cash collected from customers?

Question

Quizplus · Accepted Answer

$20,000 beginning AR balance + $160,000 sales on account - $32,000 ending AR balance = $148,000 cash collected from customers

On January 1, 2013, the Balance of Jackson Corporation's Accounts