Answer:
$437,000
Explanation:
The account receivables balance represents the amount yet to be collected from customers after revenue has been earned. The balance in this account increases when revenue is earned and reduces when cash is collected.
Given that At January 1, 2020, Culver Inc. had accounts receivable of $69,000. At December 31, 2020, accounts receivable is $54,000. Sales revenue for 2020 total $422,000
Let the cash collected be u
$69,000 + $422,000 - u = $54,000
u = $69,000 + $422,000 - $54,000
u = $437,000
Cash receipts from customers is $437,000
