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The financial statements of Seldin, Inc., provide the following information for the current year: Dec.31 Jan.1 Accounts receivable $ 36,000 $ 41,000 Inventory $ 56,000
The financial statements of Seldin, Inc., provide the following information for the current year:
Dec.31 | Jan.1 | ||||||
Accounts receivable | $ | 36,000 | $ | 41,000 | |||
Inventory | $ | 56,000 | $ | 52,000 | |||
Prepaid expenses | $ | 12,100 | $ | 14,100 | |||
Accounts payable (for merchandise) | $ | 34,000 | $ | 33,000 | |||
Accrued expenses payable | $ | 15,100 | $ | 20,100 | |||
Net sales | $ | 265,000 | |||||
Cost of goods sold | $ | 132,500 | |||||
Operating expenses (including depreciation of $18,100) | $ | 81,000 | |||||
Compute the amount of cash received from customers during the current year.
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