C Corp sales were $8,500,000 in 2016. Accounts receivable were $450,000 at the beginning of the...
- C Corp sales were $8,500,000 in 2016. Accounts receivable were $450,000 at the beginning of the year and $675,000 at the end of the year. What amount did C-Corp collect of its credit sales in 2016?
- $8,275,000
- $8,775,000
- $8,500,000
- $9,175,000
Homework Answers
cash collection = Beginning account receivable+Credit Sales-Ending account receivable
= 450000+8500000-675000
Collect of its credit sales in 2016 = $8275000
So answer is a) $8275000
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