nest company started year 2 with a beginning balance of $7,000 in accounts recei

Question

nest company started year 2 with a beginning balance of $7,000 in accounts receivable. during the year, revenue on account amounted to $13,000. the company incurred $3,000 of expenses on account and paid dividends of $500. if the company has an ending balance in accounts receivable of $2,000, how much cash was collected from customers? nest company started year 2 with a beginning balance of $7,000 in accounts receivable. during the year, revenue on account amounted to $13,000. the company incurred $3,000 of expenses on account and paid dividends of $500. if the company has an ending balance in accounts receivable of $2,000, how much cash was collected from customers? nest company started year 2 with a beginning balance of $7,000 in accounts receivable. during the year, revenue on account amounted to $13,000. the company incurred $3,000 of expenses on account and paid dividends of $500. if the company has an ending balance in accounts receivable of $2,000, how much cash was collected from customers?

Explanation / Answer

cash collected from customers:

note: expenses on account and dividends paid do not form part of the above calculaton of cash collected from customers.

opening balance of accounts receivable 7,000 add:revenue on account 13,000 less:ending balance of accounts receivable (2,000) cash collected from customers 18,000

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