Correct Answer: $2,804,400

Please give an in depth explanation to formula: Beg Accounts Receivable + sales - End Accounts Receivable. This is the correct formula for this question. Why do we start with beginning AR, add sales, and then subtract ending AR? Does this apply to equity, liabilities, and other assets?

A company reported annual sales revenue of $2,772,000. During the year, accounts receivable decreased from a $102,000 beginning balance to a $69,600 ending balance. How much cash was received from customers for the year? Select one: O A. $2,804,400 B. $3,036,600 O C. $3,003,000 O D.$ 33,600 O E. None of the above