Hanson Brothers reported credit sales of $640,000 during 2014. The accounts receivable balance increased during...
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Hanson Brothers reported credit sales of $640,000 during 2014. The accounts receivable balance increased during the year. Which statement is true? Customers paid more cash than the amount of sales generated during the year. Customers owe less at the end of the year compared to the amount they owed at the beginning of the year. Hanson sold more goods during the year than it had in previous years. The cash collected was less than the amount of sales generated during the year. Pharoah Products reported cost of goods sold of $558000 for the year ended December 31 , 2014. During the year, inventories increased by $7200, accounts payable decreased $10800, and sales increased by $20700. How much cash did Pharoah Products pay to suppliers in 2014? $561600$540000$576000$554400
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