Bright, Inc., reported credit sales of $560,000 and cash sales of $230,000 for the current year. Cost of goods sold for the current year amounted to $575,000. The beginning balance of accounts receivable was $57,000 and the ending balance was $73,000. What amount of cash collected from customers would be included in the statement of cash flows using the direct method?

Respuesta :

Answer:

$ 544,000

Explanation:

Accounts receivables  

        57,000 Beginning Balance

      560,000 Credit Sales

    -544,000 Cash Collected      ---->     ANSWER

         73,000  Ending Balance

Formula:

Cash collected = Ending Balance - Beginning Balance - Credit Sales