1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lubasha [3.4K]
3 years ago
10

Sales on account (all are collectible) amounted to $560,000 during 2019. Accounts receivable were $112,000 on January 1, 2019 an

d $98,000 on December 31, 2019. How much cash was collected from customers during the year ended December 31, 2019?
Business
2 answers:
Zepler [3.9K]3 years ago
8 0

Answer:

$574,000

Explanation:

For we to be able to know how much cash has been received during 2019, we should use this formula:

The formula is given as

cash collected = total sales on initial accounts receivables + account - ending accounts receivables.

Which we have in numerical as;

cash received for the period of 2019 = $112,000 + $560,000 - $98,000 = $574,000

So the final answer is $574,000

Alekssandra [29.7K]3 years ago
3 0

Answer:

Cash collected from customers =$574,000.

Explanation:

The cash collected ca be worked out using the formula below:

<em>Opening balance of account. receivable + sales on account - Closing balance of account  receivable</em>

<em>Note that addition credit sales increases the amount in the receivable account.</em>

So we can apply this formula as follows:

112,000 + 560,000 - 98,000

=  $574,000.

Cash collected from customers =$574,000.

You might be interested in
One difference between project management and project leadership is that project management includes
Lyrx [107]

Monitoring results against plans is the difference between project management and project leadership that project management includes.

 

To add, project management<span> is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.</span>

7 0
4 years ago
Keenan wants to incorporate his business. He buys business cards and labels with the name "Keenan’s Kwips" on them and begins se
serious [3.7K]

Answer: de jure orporation

Explanation: In simple words, de jure corporation refers to an entity that is valid and legal in the eyes of law. If a corporation is De jure then it means it has the right to issue stock, conduct business and have board of directors etc.

In the given case, Keenan follows all the rules and procedures as prescribed by the law and have a certificate of incorporation.

Hence from the above we can conclude that the Keenan business is a de jure corporation.

3 0
3 years ago
Federal obligations usually issued for maturities in excess of five years are called: _______
valentinak56 [21]

Answer: b. Treasury Notes

Explanation:

The question is a bit confusing to answer unless a mistake has been made in it.

Treasury Notes are Federal obligations that mature between 2 - 10 years so would be the correct answer for this question as this would include bonds in excess of five years till the 10th year.

Treasury Bonds on the other hand mature after 10 years.

If there is a mistake in the question and you instead meant to write 10 years instead of 5, the answer would be Treasury Bonds.

If not, the answer is Treasury Notes.

5 0
3 years ago
Give examples of three cash crops that were grown in latin america and explain why they were cash crops.
fgiga [73]
<span>Coffee/ sugar cane / bananas can grow on a small farm, lower startup costs and risks. Countries clear cut natural forests and wildlife to make room for these crops. without export, they cannot sustain the country.</span>
3 0
3 years ago
Which of the following statements regarding the Foreign Corrupt Practices Act (FCPA) is NOT TRUE? Group of answer choices Bribes
Kazeer [188]

The statement that is not the about foreign corrupt practices act is In an unstable political environment, payments made to local officials to avoid harassment of employees are acceptable.

<h3>Foreign Corrupt practices</h3>

The Foreign Corrupt Practices Act was established on 1977 in United States . It is a United State federal law that prohibits U.S. citizens from offering payment for business or bribing foreign government officials to benefit their business interests and retain businesses.

Citizens should not offer any payment to foreign officials for their business.

Therefore, The statement that is not the about foreign corrupt practices act is In an unstable political environment, payments made to local officials to avoid harassment of employees are acceptable.

Learn more on Foreign corrupt practices act from the link below.

brainly.com/question/8211495

3 0
3 years ago
Other questions:
  • A tour group split into two groups when waiting in line for food at a fast food counter. The first group bought 8 slices of pizz
    14·1 answer
  • Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for
    10·1 answer
  • Baka corporation applies manufacturing overhead on the basis of direct labor-hours. at the beginning of the most recent year, th
    9·1 answer
  • In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $13,100. During the mo
    14·1 answer
  • Which statement is true about ledger balances?
    12·2 answers
  • What is the likely impact of filing bankruptcy on a student loan ?
    11·1 answer
  • Aggie Company is going to trade-in an old piece of equipment for new equipment.
    12·1 answer
  • A substitute is standing at the halfway line waiting to enter the match at the next stoppage of play. the ball has gone over the
    8·1 answer
  • You have savings of $157,000. After talking it over with your spouse, you agree to risk no more than 30% on your new business id
    6·1 answer
  • Which category of texans, by income, pays the lowest amount of sales and excises taxes as a percentage of income?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!