$13022000 $8753000 $13022000 $8753000 $1052000 $ 996000 Additional Information:

Question

$13022000

$8753000

$13022000

$8753000

$1052000

$  996000

Additional Information:

What amount of cash was collected from 2019 accounts receivable?

Swifty Corporation Comparative Balance Sheets . December 31, 2019 2018 Assets: Current Assets: Cash $ 1360000 $1090000 Accounts Receivable (net) 3140000 2170000 Inventory 3900000 2520000 Prepaid Expenses   701000   632000 Total Current Assets 9101000 6412000 Long-Term Investments 450000 Plant Assets: Property, Plant & Equipment 4370000 2879000 Accumulated Depreciation    (899000 )   (538000 ) Total Plant Assets 3471000 2341000 Total Assets

$13022000

$8753000

. Equities: Current Liabilities: Accounts Payable $2550000 $2190000 Accrued Expenses 619000 565000 Dividends Payable     404000             Total Current Liabilities 3573000 2755000 Long-Term Notes Payable 1651000 Stockholders' Equity: Common Stock 6000000 5000000 Retained Earnings     1798000    998000 Total Equities

$13022000

$8753000

Explanation / Answer

Cash collected from 2019 accounts receivable = 14050000+2170000-3140000= $13080000 Option 3 is correct

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