Question

Brief Exercise 11-16 Determine cash received from customers (LO11-7) Video Shack's accounts receivable decreases during the year by $9 million. What is the amount of cash received from customers during the reporting period if its net sales are $73 million

Answer 1

The amount of cash received from customers during the reporting period if its net sales are $73 million is $82 million.

Using this formula

Cash Received from Customers = Net Sales + Decrease in Accounts Receivable

Where:

Net sales=$73 million

Decrease in Accounts Receivable=$9 million

Let plug in the formula

Cash Received from Customers=$73 million+$9 million

Cash Received from Customers =$82 million

Inconclusion the amount of cash received from customers during the reporting period if its net sales are $73 million is $82 million.

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