If total cash paid out during the period was $30,000, the amount of cash receipts was $31,000.
Given,
Beginning cash balance - $4,000
End of the period balance - $3,000
Total cash - $30,000
Cash receipts - ?
Thus, to calculate the amount of cash receipts, the below given formula is used.
Cash balance at the end of the period = beginning cash + cash receipts - cash outflow
$3000 = $4000 + cash receipts - $30,000
= $4000 - $3000 + $30,000
= $31,000
Hence, cash receipts is $31,000.
Cash receipts are basically the collection of money, one from a customer. Cash receipts are recognized as proof that your business has made a sale.
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