If cash collected from customers for 2013 is $780,000 and accounts receivable increased by $20,000 during the year, what were sales for 2013?
A) $600,000
B) $780,000
C) $800,000
D) Cannot be determined from information given.

Question

Quizplus · Accepted Answer

Sales for 2013 can be calculated as: 
Sales = Cash collected + Increase in Accounts Receivable 
Sales = $780,000 + $20,000 = $800,000. Therefore, the answer is option C.

If Cash Collected from Customers for 2013 Is $780,000 and Accounts