The following selected account balances were taken from
Buckeye Company's general ledger at January and
December :
January December
Accounts payable $ $
Accounts receivable $ $
Common stock $ $
Inventory $ $
Land $ $
Notes payable $ $
Retained earnings $ $
Salaries payable $ $
Buckeye Company's income statement is given below:
Sales revenue $
Cost of goods sold $
Salaries expense $
Net income $
Calculate the amount of cash collected from customers during
