Benezra SA S.A

Multiple Choice

Benezra S.A., a large Brazilian petrochemical company, reported a balance of R$1,600 million in Accounts Receivable at the beginning of 2013 and R$1,500 million at the end of 2013.Its income statement reported total Sales Revenue of R$12,000 million for 2013.Assuming that Benezra makes all sales on account, compute the amount of cash collected from customers during 2013.Benezra applies Brazilian accounting standards, and reports its results in thousands of reals (R$) , the Brazilian currency.(In answering this question, assume that Benezra uses either U.S.GAAP or IFRS; for purposes of this problem, this choice will not matter.)

A) 12,000
B) 11,900
C) 12,100
D) 13,600
E) 13,500