During 2011, XYZ Corporation wrote offaccounts receviable totalling $25,000 and made sales, all on accounts, of $710,000. Oher information about the company's sales activities follows:
- Begining of 2011 End of 2011
- A/C receviable $170,000 $140,000
- Allowance for
- Uncollectible A/c 22,000 50000
In addition in Feb2011 XYZ accepted a $ 6000 note for a cusome whose a/c was over due. King collected $2,300 on this note during Dec 2011.
Required: Prepare a schedule showing he amount of cash collected from customer during 2011.