The Accounts Receivable Balances on January 1 and December 31

question 79

Essay

The accounts receivable balances on January 1 and December 31 are $22,000 and $18,000, respectively. The income statement for the year included sales revenue of $120,000. Determine the amount of cash collected from customers during the year.

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Definitions:

Occupational Choices

The selection of a profession or career path based on personal interests, values, and the perceived suitability or rewards of the profession.

Visual Problems

refer to any conditions or issues related to the eyes that impair the ability to see normally.

Auditory Problem

Any difficulty or disorder related to hearing, including processing sounds or understanding speech.

Middle Age

A stage of adult life typically ranging from about 45 to 65 years, often characterized by increased stability, maturity, and reflection on life accomplishments and future goals.