Answer:
$273,164
Explanation:
Data given in the question
Recognized amount of service revenue = $340,000
And, the account receivable balance is $66,836
So, by considering the above information, the amount of cash collected is
= Recognized amount of service revenue - the account receivable balance
= $340,000 - $66,836
= $273,164
By deducting the account receivable balance from the service revenue recognized amount we can get the cash collected amount
Answer:
We can say First National Bank has 2 million dollars in required reserves
Explanation:
In order to calculate the required reserves we would have to make the following calculation:
Required reserves = Total reserves - excess reserves = vault cash + deposits with Federal Reserve - excess reserves
vault cash= 4 million dollars
deposits with Federal Reserve= 16 million dollars
excess reserves=18 million dollars
Therefore, Required reserves=4 million dollars+ 16 million dollars-=18 million dollars
Required reserves= 2 million dollars
We can say First National Bank has 2 million dollars in required reserves
The amount of cash received from customers during the reporting period if its net sales are $73 million is $82 million.
Using this formula
Cash Received from Customers = Net Sales + Decrease in Accounts Receivable
Where:
Net sales=$73 million
Decrease in Accounts Receivable=$9 million
Let plug in the formula
Cash Received from Customers=$73 million+$9 million
Cash Received from Customers =$82 million
Inconclusion the amount of cash received from customers during the reporting period if its net sales are $73 million is $82 million.
Learn more about cash received from customers here:brainly.com/question/5019692
<span>The answer is </span>
<span>Mixed economies</span>