Question
A company reported the following information: Accounts receivable, December 31, 2020 $122,000 Accounts receivable, December 31, 2019 113,000 Sales (all on credit) for 2020 850,000
A company reported the following information:
| Accounts receivable, December 31, 2020 | $122,000 |
| Accounts receivable, December 31, 2019 | 113,000 |
| Sales (all on credit) for 2020 | 850,000 |
How much cash was collected from customers during 2020?
| a. | $841,000 | |
| b. | $963,000 | |
| c. | $859,000 | |
| d. | $972,000 |
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Operational Review Maximum Results At Efficient Costs
Authors: Rob Reider
3rd Edition
0471228109, 978-0471228103
