Microchem Corporation reported a balance of 5,196 million in accounts receivable at the beginning of the year

Question:

Microchem reported a balance of €5,196 million in at the beginning of the year and €5,334 million at the end of the year. Its statement of cash flows using the direct method reported cash collections from customers of €33,551 million for the year. Assuming that Microchem makes all sales on account, compute the amount of sales during the year.

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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...