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The following accounts, among others, appeared on ZZ Company's balance sheet at January 1, 2020 and December 31, 2020 December 31, 2020 January 1, 2020
The following accounts, among others, appeared on ZZ Company's balance sheet at January 1, 2020 and December 31, 2020 December 31, 2020 January 1, 2020 48,000 Accounts receivable 63,000 Utilities payable 20,000 26,000 Notes payable 71,000 80,000 Common stock 30,000 90,000 Retained earnings 22,000 78,000 The following information taken from Zz Company's 2020 income was statement: Sales revenue $500,000 Cost of goods sold 280,000 Other expenses 120,000 $100,000 Net income during 2020. Calculate the amount of cash collected from customers
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