Question
On January 1 a company had accounts receivable of $20,000.During the year the company sold $100,000 of merchandise to credit customers.At December 31 the company
On January 1 a company had accounts receivable of $20,000.During the year the company sold $100,000 of merchandise to credit customers.At December 31 the company had accounts receivable of $50,000.How much cash did the company collect from credit customers during the year?
A. $120,000
B. $70,000
C. $130,000
D. $100,000
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Managerial Accounting
Authors: James Jiambalvo
6th edition
9781119158226, 111915801X, 1119158222, 978-1119158011
