During 2011, Cameron Company had $300,000 in cash sales and $3,500,000 in credit sales. The accounts receivable

Question:

During 2011, Cameron Company had $300,000 in cash sales and $3,500,000 in credit sales. The accounts receivable balances were $450,000 and $530,000 at December 31, 2010 and 2011, respectively. What was the total cash collected from all customers during 2011? How should this cash be classified on the statement of cash flows?

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...