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For the calendar year 2019, Palmer Inc. had the following items that affected the accounts...

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Accounting

For the calendar year 2019, Palmer Inc. had the following items that affected the accounts receivable account: $6,500,000 of credit sales, $250,000 in write-offs, and $5,000 of recoveries. The beginning and ending accounts receivable balances reported on the financial statements were $2,600,000 and $3,200,000, respectively. How much cash did Palmer collect from credit customers in 2019?

Select one:

a. $5,905,000

b. $6,855,000

c. $5,655,000

d. $6,145,000

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