A firm reports sales of €50,000,000 for the year ended December 31, 2018. Its accounts receivable...

A firm reports sales of €50,000,000 for the year ended December 31, 2018. Its accounts receivable balances were €6,000,000 at January 1, 2018 and €7,500,000 at December 31, 2018. The company’s cash collections from sales (€) for 2018 is closest to:

a) 51,500,000 b)42,500,000 c)48,500,000

Expert Solution

Ans c) 48,500,000

Company’s cash collections from sales = 48,500,000

The company’s cash collections from sales (€) for 2018 is closest to €48,500,000

jeff jeffy answered 2 years ago

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A firm reports sales of €50,000,000 for the year ended December 31, 2018. Its accounts receivable...

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