Using the following information, compute cash collected from customers. Sales . . . . . . .
Question:
Using the following information, compute cash collected from customers.
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,300
Operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,800
....................................................... End of Year ..................... Beginning of Year
Prepaid operating expenses . . . . . . . . . . . . . . . . . . $ 700 ............................... $1,000
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 ................................ 1,350
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,100 ................................ 2,500
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . 1,375 ................................ 1,400
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