Question

At the beginning of the period, Accounts Receivable equals $1,700. At the end of the period, Accounts Receivable equals $2,200. If Service Revenue for the period equals $15,400, what was the cash received from customers for the period?

Answer 1

Answer:

$14,900

Explanation:

The computation of the cash received from customers are shown below:

= Opening balance of accounts receivable + service revenue - ending balance of accounts receivable

= $1,700 + $15,400 - $2,200

= $14,900

Simply we added the service revenue and deduct the ending balance of accounts receivable from the Opening balance of accounts receivable so that the accurate value can come.