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A December 31 fiscal year-end company has the following information provided regarding Accounts Receivable and Sales Revenue for a given period: Accounts Receivable Beginning Balance,
A December 31 fiscal year-end company has the following information provided regarding Accounts Receivable and Sales Revenue for a given period: Accounts Receivable Beginning Balance, January 1 43,500 Ending Balance, December 31 25,000 Sales Revenue Cash Sales Ending Balance, December 31 50,000 94,600 The company does not accept prepayment from customers for future sales (i.e. there is no "Unearned Revenue" account for this company). What was the amount of Cash Collections from customers paying on account during the year? $25,000 $63,100 $44,600 $18,500 $44,600
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