Question

Kennewick Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000. Determine cash collections.

Answer 1

Answer:Cash collections = $577,000

Step-by-step explanation:

Cash collections is solved as

Opening balance + credit sales - Closing balance

= $70,000 + $598,000 - $91,000

Cash collections = $577,000