Hinton Ltd provides the following information that relates to the year ended 30 June 2023:

• Sales for the year $400,000
• Discounts allowed to customers $ 7,000
• Bad debts expense $ 10,000
• Accounts receivable, 1 July 2022 $150,000
• Accounts receivable, 30 June 2023 $170,000

Hinton Ltd uses the direct method for bad debts. How much cash was received from customers during the year?

a.

$363,000

b.

$383,000

c.

$403,000

d.

$370,000

e.

$397,000