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Required information [The following information applies to the questions displayed below.) The financial statements of...

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Accounting

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Required information [The following information applies to the questions displayed below.) The financial statements of New World, Inc., provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales Cost of goods sold Operating expenses (including depreciation of $66,000) Dec.31 $ 290,000 $ 283,750 $ 74,000 $ 262,800 $ 66,150 $3,182,500 $1,678,500 $ 384,500 Jan. 1 $ 411,500 $ 269,000 $ 71,500 $ 255,550 $ 80,950 Compute the amount of cash received from customers during the current year. Multiple Choice $3,189,750 Compute the amount of cash received from customers during the current year. Multiple Choice $3,189,750 16 $3,304,000 $3,331,200 $3,182,500

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