Question
IBM has beginning accounts receivable of $150,000 and ending accounts receivable of $200,000. During the period, sales were $1,000,000. Calculate: a) The cash collected from
IBM has beginning accounts receivable of $150,000 and ending accounts receivable of $200,000. During the period, sales were $1,000,000. Calculate: a) The cash collected from customers. b) The change in accounts receivable. c) The amount of credit sales made during the period. d) The average accounts receivable balance during the period.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077400163
