Sheffield Corp. had a beginning balance in accounts receivable of $67,410 and an ending balance of $90,960. Credit sales...
Sheffield Corp. had a beginning balance in accounts receivable of $67,410 and an ending balance of $90,960. Credit sales during the period were $571,370. Determine cash collections.
Homework Answers
Answer
--Cash collection = Accounts receivables - Beginning + Credit
sales - Accounts receivables - ending
= $ 67410 + $ 571370 - $ 90960
= $ 547,720
Answer
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