Question

In its December 31, 2017 financial statements, McEathron Inc. (McEathron) reported a beginning accounts receivable balance of $4,750,000 and an ending accounts receivable balance of $4,498,000. The company also had $315,000 of unearned revenue on December 31, 2016 and $455,000 of unearned revenue on December 31, 2017. McEathron reported sales for the year ended December 31, 2017 of $32,850,000. All sales are on credit.

Required:
Calculate the amount of cash McEathron collected from customers during 2017.




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  • CreatedFebruary 26, 2015
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