Sweeten Corporation had sales of $920,000. The beginning accounts receivable balance was $65,000 and the ending accounts receivable balance was $220,000. How much is the cash collected from customers for this reporting period? a. $700,000 b. $1,075,000 c. $985,000 d. $765,000

Kmu

Given beginning and ending accounts receivable of $20,000 and $23,000, respectively, and assuming $100,000 of cash collections on account during the period, total sales on account for the period totaled $97,000.   True or False?

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Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending accounts receivable balance at December 31 is $300,000. Assuming cash collections from receivables totaled $1,100,000, what were credit sales for the period?   A. $1,300,000 B. $1,500,000 C. $1,200,000 D. $1,100,000

Sweet Company has the following account balances: \table [[Inventory, 556,000], [Prepaid Insurance, 12,000], [Cash, 360,000], [Accounts Receivable,260,000], [Supplies, 26, 000], [Allowance for Doubtful Accounts, 36,000]] When listing Accounts Receivable, what is the cash (net) realizable value to be presented on the statement of financial position? 620,000 260,000 296,000 224,000

Considering the financial statement information below for the The C’mon Cam! Co., how long is the cash cycle?  Item                        Beginning                 EndingInventory                    $9,338              $11,550Accounts Receivable    5,670                  6,947Accounts Payable         7,689                  9,625 Net Sales   $82,544Cost of Goods Sold  $58,638 a. 28 daysb. 39 daysc. 65 daysd. 93 days

sanju

None

10) DEF Company has the following data relating to accounts receivable for the year ended December 31, 2022: Accounts receivable, January 1, 2022 P 480,000 Allowance for doubtful accounts, 1/1/22 28,600 Cash sales 300,000 Sales on account, terms: 2/10, 1/15, n/30 2,560,000 Cash received from customers during the year 2,400,000 Accounts written off during the year 17,600 Cash refunds given to cash customers for sales returns and allowances 15,000 Credit memoranda issued to credit customers for sales returns and allowances 25,000 The P2,400,000 collection is composed of the following: Collection from customers availing the 10-day discount period: Gross selling price P 1,440,000 Discount taken (1,440,000 x 2%)   (28,000) P 1,411,200 Collection from customers availing the 15-day discount period: Gross selling price 800,000 Discount taken (800,000 x 1%)        ( 8,000)   792,000 Collection from customers paying beyond the discount period: 192,000 Collection of accounts previously written…