Byfort Company Reports the Following in Its Financial Statements *All Sales Are on Credit

question 32

Multiple Choice

Byfort Company reports the following in its financial statements:
$$\begin{array} { | l | c | c | } \hline & \underline { 2005 } & \underline { 2006 } \\\hline \text { Accounts receivable, net } & \$ 34,289 & \$ 29,678 \\\hline \text { Net sales* } & \$ 360,007 & \$ 450,000 \\\hline\end{array}$$
*All sales are on credit.
-How much did the company collect in cash from customers during 2006?

• A)$445,389
• B)$454,611
• C)$484,289
• D)$488,900

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