Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of

Question:

Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making sales and collecting accounts receivable?

a. $344,000

b. $418,000

c. $378,000

d. $376,000

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...