Kyoto Industries Began the Year with $81,500 in Accounts Receivable

question 41

Multiple Choice

Kyoto Industries began the year with $81,500 in Accounts Receivable and ended the year with $79,200 in Accounts Receivable. Sales for the year were $2,100,000. The cash collected from customers during the year amounted to:

• A)$2,179,200.
• B)$2,102,300.
• C)$2,097,700.
• D)$2,181,500.

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Definitions:

Declaration Date

The day when a company's board of directors declares the upcoming dividend payment.

Ex-Dividend Date

The date after which a stock is traded without its previously declared dividend, meaning purchasers no longer have the right to receive the declared payment.

Date Of Record

A specific date set by a company on which the shareholders must be registered to be entitled to dividend payments.

Cum Dividend

A term used to describe a stock that is trading with the right to receive a dividend that has been declared but not yet paid.