LRRP Company had credit sales of $650000. The beginning accounts receivable balance was $15000 and the ending accounts receivable balance was $140000. What were the cash collections from customers during the period?

A) $775000
B) $650000
C) $525000
D) $665000

Question

Francien Mungle · Accepted Answer

Final Answer : C, Explanation :  Cash collections from customers can be calculated using the formula: Cash Collections = Beginning Accounts Receivable + Credit Sales - Ending Accounts Receivable. Plugging in the given values: Cash Collections = $15,000 + $650,000 - $140,000 = $525,000.

LRRP Company had credit sales of $650000. The beginning accounts receivable balance was $15000 and the ending accounts receivable balance was $140000. What were the cash collections from customers during the period?

A) $775000
B) $650000
C) $525000
D) $665000

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Learning Objectives

Related questions

LRRP Company had credit sales of $650000. The beginning accounts receivable balance was $15000 and the ending accounts receivable balance was $140000. What were the cash collections from customers during the period?A) $775000B) $650000C) $525000D) $665000

Definitions

Learning Objectives

Learning Objectives

Related questions

LRRP Company had credit sales of $650000. The beginning accounts receivable balance was $15000 and the ending accounts receivable balance was $140000. What were the cash collections from customers during the period?

A) $775000
B) $650000
C) $525000
D) $665000