Suppose Columbia Sportswear Company had accounts receivable of $329,543,500 at January 1, 2022, and $249,202,800 at...
Suppose Columbia Sportswear Company had accounts receivable of $329,543,500 at January 1, 2022, and $249,202,800 at December 31, 2022. Assume sales revenue was $1,368,425,300 for the year 2022. What is the amount of cash receipts from customers in 2022? The amount of cash receipts from customers in 2017=?
Homework Answers
Answer:
Amount of cash receipts from customers in 2022 = Accounts receivable at January 1 + Sales revenue for 2022 - Accounts receivable at December 31, 2022
Amount of cash receipts from customers in 2022 = $329,543,500 + $1,368,425,300 - $249,202,800
= $1,448,766,000
Amount of cash receipts from customers in 2022 = $1,448,766,000
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