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The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued
The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales Cost of goods sold Operating expenses (including depreciation of $69, 000) December 31 $ 293, 000 $ 287,500 $ 75, 200 $ 267, 300 $ 66, 150 $ 3, 197, 500 $ 1,687,500 $ 387,500 January 1 $ 441,500 $ 272,000 $ 73,000 $ 261,550 $ 82, 450 What is the amount of cash received from customers during the current year? Multiple Choice O $3 203,250 $3197.500 O O $3,371,700 O $3,346,000
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