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The financial statements of Seldin, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 32,000 $ 37,000 Inventory
The financial statements of Seldin, Incorporated, provide the following information for the current year:
December 31 January 1
Accounts receivable $ 32,000 $ 37,000
Inventory $ 52,000 $ 48,000
Prepaid expenses $ 11,700 $ 13,700
Accounts payable (for merchandise) $ 30,000 $ 29,000
Accrued expenses payable $ 14,700 $ 19,700
Net sales $ 245,000
Cost of goods sold $ 122,500
Operating expenses (including depreciation of $17,700) $ 77,000
What is the amount of cash received from customers during the current year?
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