Connect .> C × \\ e Accounting question lc x \\M Your question was answe × \\eCo

Question

Connect .> C × e Accounting question lc x M Your question was answe × eConnect xEAccountin Secure ! https://newconnect.mheducation.com/flow/connect.html Ch. 21- Concept Overview Videos (47 minutes) 6 Saved Help Save & Exit Submlt Check my work 2 Required information Part 2 of 6 Noncash revenues and gains (e.g. gain on sale of assets) Less: Expenses: ash outflows ash paid to suppiers of inventory Cost of goods sold Salaries expense Noncash expenses and losses (e.g.. Cash paid to employees points Not reported depreciation, amortization, loss on sale of assets) Interest expense Other operating expenses Income tax expense Cash paid to creditors Cash paid to insurance companies and others Cash paid to the govemment eBook Not Income Not cash fiows from operating activities Knowledge Check 01 Grant Company reported net income of S74,000 and sales revenue of $201,000 for the current year. The company also reported beginning and ending accounts receivable at $25,500 and $16,000, respectively. What was the amount of cash collected from customers? Prey 2 3 4... 6 of 9Score answer> ???@) a e 7:05 PM A292018 2

Explanation / Answer

Cash collected from customers: Sales revenue reported: 201,000 Add: Beginning balance of Accounts receivable 25,500 Less: Ending balance of Accounts receivable -16,000 Cash collected from customers 210,500 Answer is $210,500

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.