At January 1, 2010, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2010, accounts receivable

Question:

At January 1, 2010, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2010, accounts receivable is $54,000. Sales for 2010 total $420,000. Compute Eikenberry’s 2010 cash receipts from customers.

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...