Question
26 1 pts 2019 2020 2019 Cash $400 $250 Accounts payable $260 Accounts receivable $880 $1,220 Utilities payable $310 Inventory $160 $280 Salaries payable $1,200
26 1 pts 2019 2020 2019 Cash $400 $250 Accounts payable $260 Accounts receivable $880 $1,220 Utilities payable $310 Inventory $160 $280 Salaries payable $1,200 Prepaid insurance $50 $20 Notes payable $6,000 Equipment $4,000 $4,000 Interest payable $400 Accum. depreciation ($1,100) ($1,300) Common stock $1,000 Land $6,000 $7,600 $10,390 $12,070 Retained earnings $1.220 $10,390 Given the above information, how much cash was collected from customers if the company earned $96,000 in revenue during 2020? $97,220 $96,000 O $95,660 $96,340 None of the above 1 pts 2019 2020 2019 2020 $400 $250 Accounts payable $260 $290 receivable $880 $1,220 Utilities payable $310 $360 $160 $280 Salaries payable $1,200 $900 Isurance $50 $20 Notes payable $6,000 $6,500 it $4,000 $4,000 Interest payable $400 $550 epreciation ($1,100) ($1,300) $7,600 $6,000 Common stock $1,000 $1,000 Retained earnings $1.220 $2.470 $10,390 $12,070 $10,390 $12,070 above information, how much cash was collected from customers if the earned $96,000 in revenue during 2020? O $97,220 $96,000 $95,660
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started