Cash Collected from Customers
Using the following information, compute cash collected from customers.
Sales |
$10,000 |
Cost of goods sold |
5,300 |
Operating expenses |
3,800 |
|
End of Year |
Beginning of Year |
Prepaid operating expenses |
$1,000 |
$ 700 |
Accounts payable |
1,350 |
1,200 |
Inventory |
2,500 |
2,100 |
Accounts receivable |
1,400 |
1,375 |