RJB Reported Sales of $200,000 and an Increase in Accounts

question 163

Essay

RJB reported sales of $200,000 and an increase in accounts receivable of $30,000 during 2011. Under the direct method, calculate what would be RJB's cash collected from customers during 2011?

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Definitions:

Reports

Written documents that summarize financial data and business activities, used to communicate information to stakeholders.

Internal Reports

Financial and operational reports that are prepared for exclusive use within the company, not for external stakeholders.

Communicated

The process of conveying information, ideas, or feelings from one entity to another, using various mediums and channels.

Managerial Accounting

The field of accounting that focuses on providing information to managers for use in planning, controlling, and making decisions.