Question
14. Derive sales revenue from data in the statement of cash flows and balance sheet. MicrochemCorporation reported a balance of 5,196 million in accounts receivable
14. Derive sales revenue from data in the statement of cash flows and balance sheet. MicrochemCorporation reported a balance of 5,196 million in accounts receivable at the beginningof the year and 5,334 million at the end of the year. Its statement of cash flows using thedirect method reported cash collections from customers of 33,551 million for the year.Assuming that Microchem Corporation makes all sales on account, compute the amountof sales during the year.
Chapter 6, 6.14 Weil, Roman L.. Financial Accounting: An Introduction to Concepts, Methods and Uses (p. 201). Cengage Textbook.
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