Question 4 2 points A company reported annual sales revenue

Question 4 (2 points)

A company reported annual sales revenue of $1,800,000. During the year, accounts receivables decreased by $8,000. How much cash was collected from customers for the year?

Question 4 options:

a)

$ 1,808,000

b)

$ 1,964,000

c)

$ 1,796,000

d)

$ 1,820,000

Solution

ANSWER = A) $1,808,000

Sales Revenue = $1800000

Decrease in Accounts Receivable = $8000

Cash collected from customers for the year = $1800000 + $8000

= $1,808,000