(Appendix 11A) Cash Receipts from Customers} Sayed Ltd. had accounts receivable of ($ 391,400) at January 1,...

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(Appendix 11A) Cash Receipts from Customers}

Sayed Ltd. had accounts receivable of $\$ 391,400$ at January 1, 2018, and $\$ 418,650$ at December 31, 2018. Net income for 2018 was $\$ 550,000$ and sales revenue was $\$ 925,000$.

\section*{Required:}

Compute the amount of cash collected from customers in 2018 using the direct method.

\section*{Cornerstone Exercise

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