Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 14 - Statement of Cash Flows - The Foundational 15 - Required - Page 659: 4

Answer

Thee total amount of credits recorded in Accounts Receivable account during the year is $603,000

Work Step by Step

Cash collections = Beginning balance + sales on the account "Account Receivable" - Ending balance Cash collections = 44,000 + 600,000 - 41,000 Cash collections = $603,000
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