CASH RECEIVED FROM CUSTOMERS Potts Companys sales for 20-2 were $800,000. The Accounts Receivable balance as of

Question:

CASH RECEIVED FROM CUSTOMERS Potts Company’s sales for 20-2 were $800,000. The Accounts Receivable balance as of December 31, 20-1, was $90,000. This same account had a balance of $75,000 as of December 31, 20-2. Compute the amount of cash received from customers in 20-2.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...