H Company's accounting records show: $
$\begin{array}{ll}
\text { Credit sales for the year } & 650,000 \
\text { Discounts provided for early payment } & 15,000 \
\text { Opening balance of accounts receivable } & 100,000 \
\text { Closing balance of accounts receivable } & 90,000
\end{array}$ The cash received from customers is:
A)$595 000
B)$590 000
C)$645 000
D)$610 000

Question

Quizplus · Accepted Answer

The cash received from customers is calculated as: Opening balance of accounts receivable + Credit sales - Discounts - Closing balance of accounts receivable = 100,000 + 650,000 - 15,000 - 90,000 = 645,000.

H Company's Accounting Records Show: The Cash Received from Customers Is: A)$595 000 B)$590 000

H Company's Accounting Records Show: The Cash Received from Customers Is:
A)$595 000
B)$590 000