Solved: Amount of cash received from customers, Finance Basics

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Amount of cash received from customers

Problem:

A company reported a $1,800 balance in accounts receivable on January 1, 2000. During the year, $12,400 of sales on account were made. During the year, the Co. wrote off as uncollectable, accounts receivable of $850. If the ending balance of accounts receivable is $1,000, what is the amount of cash received from customers?

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Finance Basics: Amount of cash received from customers

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