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3 August, 03:05

Suppose Columbia Sportswear Company had accounts receivable of $321,721,500 on January 1, 2017, and $204,269,600 on December 31, 2017. Assume sales revenue was $1,266,847,700 for the year 2017. What is the amount of cash receipts from customers in 2017?

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  1. 3 August, 06:30
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    Answer: $1,384,299,600

    Explanation:

    Given that,

    Accounts receivable = $321,721,500 on January 1, 2017

    Accounts receivable = $204,269,600 on December 31, 2017

    Sales revenue = $1,266,847,700 for the year 2017

    In 2017,

    Amount of cash receipts from customers in 2017:

    = Beginning sales + Sales revenue - Ending balance

    = $321,721,500 + $1,266,847,700 - $204,269,600

    = $1,384,299,600
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