From the following information calculate the cash received from customers. $$\begin{array} { l r }
\text { Accounts receivable opening balance } & \$ 20,000 \
\text { Credit Sales } & \$ 860,000 \
\text { Accounts receivable closing balance } & \$ 40,000
\end{array}$$
A)$840,000.
B)$900,000.
C)$840,000
D)$820,000.

Question

From the following information calculate the cash received from customers. $$\begin{array} { l r } 
\text { Accounts receivable opening balance } & \$ 20,000 \
\text { Credit Sales } & \$ 860,000 \
\text { Accounts receivable closing balance } & \$ 40,000
\end{array}$$
A)$840,000.
B)$900,000.
C)$840,000
D)$820,000.

Quizplus · Accepted Answer

The cash received from customers can be calculated using the formula: Opening Balance of Accounts Receivable + Credit Sales - Closing Balance of Accounts Receivable. Thus, $20,000 + $860,000 - $40,000 = $840,000.

From the Following Information Calculate the Cash Received from Customers