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Lagos Corp

Question 3

Multiple Choice

Lagos Corp. recorded sales of $345,000 in 2006, in addition its accounts receivable and accounts payable balances at the beginning and end of 2006 were as follows: Lagos Corp. recorded sales of $345,000 in 2006, in addition its accounts receivable and accounts payable balances at the beginning and end of 2006 were as follows: How much cash did Lagos collect from customers in 2006? A) $345,000 B) $320,000 C) $324,000 D) $316,000 How much cash did Lagos collect from customers in 2006?


A) $345,000
B) $320,000
C) $324,000
D) $316,000

Correct Answer:

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