During 2014, Kew Company, a service organization, had $200,000 in cash sales and $3,000,000 in credit sales The accounts receivable balances were $400,000 and $485,000 at December 31, 2013 and 2014, respectively Required What was Kew Companys cash receipts from sales in 2014 ...

Cash receipts from sales include cash sales plus collections o ...

During 2014, Kew Company, a service organization, had $200,000 in cash sales and $3,000,000 in credit sales.

Question:

During 2014, Kew Company, a service organization, had $200,000 in cash sales and $3,000,000 in credit sales. The balances were $400,000 and $485,000 at December 31, 2013 and 2014, respectively.

Required:
What was Kew Company’s cash receipts from sales in 2014?

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...