contestada

Holmes Furniture Center had accounts receivable of $ 23 comma 000 at the beginning of the year and $ 59 comma 000 at​ year-end. Revenue for the year totaled $ 112 comma 000. How much cash did the business collect from​ customers?

Respuesta :

Answer:

The amount of cash that business collected from the customers is $76,000.

Explanation:

Formula used for taking out the cash collected by business -

          Accounts receivables at the beginning of the period

                                               +

                         Revenue collected in the year

                                                -

            Accounts receivables at the end of the period

Given information -

      Accounts receivables at the beginning of the period = $23,000

                         Revenue collected in the year = $112,000

            Accounts receivables at the end of the period = $59,000

Cash collected = $23,000 + $112,000 - $59,000

                       = $76,000

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