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Computing Cash Collections from Customers. Caterpillar manufactures heavy machinery and equipment and provides financing for purchases by its customers. Caterpillar reported sales and interest revenues
Computing Cash Collections from Customers. Caterpillar manufactures heavy machinery and equipment and provides financing for purchases by its customers. Caterpillar reported sales and interest revenues of $51,324 million for Year 1. The balance sheet showed current and noncurrent receivables of $15,752 million at the beginning ofYear 1and $18,448 million at the end of Year 1. Compute the amount of cash collected from customers during Year 1.
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