Boston Corporation reported a $7,200 balance in accounts receivable on January 1, 2013. During the year $49,600 of sales on account were made. If the ending balance of accounts receivable amounts to $25,000, what is the amount of cash received from customers?

Question

Quizplus · Accepted Answer

$7,200 beginning balance + $49,600 sales on account - $25,000 ending balance = $31,800 cash received

Boston Corporation Reported a $7,200 Balance in Accounts Receivable on January