The income statement for Noble Corporation reported sales of​ $390,000 for the​ year, all of which were on​ account, and net income of​ $89,000. Accounts receivable was​ $38,000 at the beginning of the year and​ $46,000 at the end of the year. Calculate cash collected from customers during the yearA. $398,000
B. $97,000
C. $382,000
D. ​$390,000

Respuesta :

Answer:

The answer is C. $382,000

Explanation:

To find cash collected from customers: Take Beginning Accounts receivable and add revenue to it, then subtract ending accounts receivable from the addition.

Please refer to the attached file for calculation.

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