At the beginning of the period,Accounts Receivable equals $1,700.At the end of the period,Accounts Receivable equals $2,200.If Service Revenue for the period equals $15,400,what was the cash received from customers for the period?
A)$13,200.
B)$15,900.
C)$14,900.

Question

Quizplus · Accepted Answer

We can use the formula:
Cash Received from Customers = Service Revenue + Beginning Accounts Receivable - Ending Accounts Receivable
Cash Received from Customers = $15,400 + $1,700 - $2,200
Cash Received from Customers = $14,900
Therefore, the correct answer is C.

At the Beginning of the Period,Accounts Receivable Equals $1,700