Singleton Inc. had accounts receivable of $22,150 at January 1, 2019, and $26,850 at December 31, 2019.

Question:

Singleton Inc. had of $22,150 at January 1, 2019, and $26,850 at December 31, 2019. Net income for 2019 was $125,300 and sales revenue was $1,240,000.
Required:
Compute the amount of cash collected from customers using the direct method?
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...