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if sales on an accrual basis are $500,000 and accounts receivable increased by $30,000, the cash received from customers would be:.

Respuesta :

Customers would pay $530,000 in cash if sales on an accrual basis were $500,000 and accounts receivable climbed by $30,000.

How is the accrual basis applied?

The accrual basis is a system of accounting transactions that records income as it is received and expenses as it is incurred. The use of provisions for sales returns, bad debts, and inventory obsolescence that are made before such occurrences occur is required by the accrual basis.

The accrual basis of accounting serves what purpose?

Accrual accounting presents a more accurate and up-to-date picture of a company's financial situation. Credit cards or later invoicing are used to complete many financial transactions. When a good or service is provided, accrual accounting records these upcoming payments (paid or received).

Learn more about accrual basis: https://brainly.com/question/28192018

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