ABC Co had sales revenue of $60,000 and cost of goods sold of $40,000. They also...

  

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ABC Co had sales revenue of $60,000 and cost of goods sold of $40,000. They also had the following changes in some selected current assets and current liabilities (not all of these accounts are relevant to the problem): Cash Accounts receivable Inventory Prepaid insurance Accounts payable +18,000 +5,000 -3,000 -6,000 +2,000 +2,500 -1,800 Wages payable Taxes payable How much cash was received from customers? ABC Co had sales revenue of $60,000 and cost of goods sold of $40,000. They also had the following changes in some selected current assets and current liabilities (not all of these accounts are relevant to the problem): Cash Accounts receivable Inventory Prepaid insurance Accounts payable +18,000 +5,000 -3,000 -6,000 +2,000 +2,500 -1,800 Wages payable Taxes payable How much cash was received from customers?

Answer rating: 100% (QA)

In order to determine how much cash was received from customers you have to consider t... View the full answer