Sales for Harlem Tool Die during 20X1 were $600,000, 75 of them on credit and 25 for cash During the year, accounts receivable increased from $56,000 to $67,000, an increase of $11,000 What amount of cash did Harlem receive from customers during 20X1 ...

Receiving cash from customers is the money which owed to ...

Sales for Harlem Tool & Die during 20X1 were $600,000, 75% of them on credit and 25%

Question:

Sales for Harlem Tool & Die during 20X1 were $600,000, 75% of them on credit and 25% for cash. During the year, increased from $56,000 to $67,000, an increase of $11,000. What amount of cash did Harlem receive from customers during 20X1?

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...