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3.8 Computing Cash Collections from Customers. Caterpillar manufactures heavy machinery and equipment and provides...

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Accounting

3.8 Computing Cash Collections from Customers.

Caterpillar manufactures heavy machinery and equipment and provides financing for purchases by its customers. Caterpillar reported sales and interest revenues of $51,324 million for Year 1. The balance sheet showed current and noncurrent receivables of $15,752 million at the beginning of Year 1 and $18,448 million at the end of Year 1. Compute the amount of cash collected from customers during Year 1.

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