Answer:
$1,229,180,700
Explanation:
Assuming there are no sales tax and credit sales are same in value as receivables
Given;
Accounts receivable at January 1, 2017 = $292,959,100
Accounts receivable at December 31, 2017 = $211,190,900
Sales revenue for the year = $1,147,412,500
amount of cash receipts from customers = x
Using the formula
Account receivable at the start of the period + Sales - Cash received = Account receivable at end of period
$292,959,100 + $1,147,412,500 - x = $211,190,900
x = $292,959,100 + $1,147,412,500 - $211,190,900
= $1,229,180,700
The amount of cash receipts from customers in 2017 is $1,229,180,700
