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    Cash collection from customers

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    24) A company reported sales of $320,000 this year. The following is also available:

    Accounts receivable

    Balance at the beginning of this year $40,000
    Balance at end of this year $25,000

    On the statement of cash flow (direct method), what amount would be reported for "cash collected from customers" for this year?

    A) $255,000
    B) $305,000
    C) $335,000
    D) $360,000

    Please select one of the following answers stated above.

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    Solution Summary

    The solution calculates the cash collection from customers.