I need answer of this question solution general accounting Sweeten Corporation had sales of $920,000. The beginning accountsreceivable balance was $65,000 and the ending accounts receivablebalance was $220,000. How much is the cash collected fromcustomers for this reporting period?a. $700,000b. $1,075,000c. $985,000d. $765,000

Step 1: Define ReceivablesReceivables are recorded when a company sells goods on credit to the…

Answered: Sweeten Corporation had sales of…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5MC

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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