please do both thank you! The Liu Company had $600,000 of sales revenue. During

Question

please do both thank you!

The Liu Company had $600,000 of sales revenue. During the same accounting period the beginning and ending accounts receivable balances were $27,000 and $29,000, respectively. What amount of cash was collected from the customers during this period? A. $600.000 B. $602,000 C. $598,000 D. $2,000 6. Garcia Manufacturing Company had the following data December 20X2 20X1 Building (net) Proceeds from sale of building Gain on sale of building Cost of building purchased during the year $950,000 $640,000 $450,000 $60,000 $790,000 What is the amount of depreciation expense recorded for the year ended December 31, 20X2? A. $310,000 B. $450,000 C. $90,000 D. $390,000 mr are not included in determining the cash payments

Explanation / Answer

Question 6

Cash collected from the customers during this period

= Beginning Accounts Receivables + Current Year Sales - Ending Accounts Receivables

= $27,000 + $6,00,000 - $29,000

= $5,98,000

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