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A Company Reported Sales Revenue,all of Which Arose from Credit

Question 19

Multiple Choice

A company reported sales revenue,all of which arose from credit sales,of $40,000 on the income statement.Balance sheet information includes the following:
A company reported sales revenue,all of which arose from credit sales,of $40,000 on the income statement.Balance sheet information includes the following: How much cash was collected from customers during the year? A) $11,450. B) $51,450. C) $43,700. D) $38,200.
How much cash was collected from customers during the year?


A) $11,450.
B) $51,450.
C) $43,700.
D) $38,200.

Correct Answer:

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