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The 2016 income statement of Phillips Co. reported total sales revenue of $244,200; the 2015 balance sheet showed a balance in accounts receivable of $39,500
The 2016 income statement of Phillips Co. reported total sales revenue of $244,200; the 2015 balance sheet showed a balance in accounts receivable of $39,500 while the 2016 balance sheet showed a balance in accounts receivable of $57,700. The amount of cash collected from customers was: |
$283,700.
$262,400.
$226,000.
$244,200.
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