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Chapter 3. Converting accrual accounting data to cash flow data Consider the following account balances and other information: 30/6/X1 30/6/X2 30/6/X3 Accounts receivable $1,000,000 $2,000,000
Chapter 3. Converting accrual accounting data to cash flow data Consider the following account balances and other information: 30/6/X1 30/6/X2 30/6/X3 Accounts receivable $1,000,000 $2,000,000 $1,500,000 $10,000 $11,000 Provision for doubtful debts Doubtful debts expense $12,000 $3,000 0 $1,000 Other information: Credit sales for the year ended 30/6/20X2 totalled $2,200,000 and credit sales for the year ended 30/6/2083 totalled $3,000,00 Bad debts were written-off against the provision for doubtful debts account. What was the total amount of cash received from customers over the period 1/7/20x1 to 30/6/20X3
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