Determine the Amount of Cash Received from Customers for Each

Essay

Determine the amount of cash received from customers for each of the two independent situations below. $$\begin{array} { | c | c | c | c | } \hline \text{Situation} & \begin{array} { c } \text { Sales } \\\text { Situation }\end{array} & \begin{array} { c } \text { Accounts } \\\text { receivable } \\\text { revenue }\end{array} & \begin{array} { c } \text { Cash } \\\text { received } \\\text { from } \\\text { customers }\end{array} \\\hline 1 & \$ 300,000 & \$ 10,000 & ? \\\hline 2 & 300,000 & ( 10,000 ) & ? \\\hline\end{array}$$