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  3. the income statement of new gold mountain services

The income statement of New Gold Mountain Services for the year ending 31 October 2021...

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Accounting

The income statement of New Gold Mountain Services for the year ending 31 October 2021 showed service revenue of $56,000. Sales made by the business is 80% received in cash and the remaining on account. The balance sheet as at 31 October 2020, showed accounts receivable of $12,700 and the 2021 balance sheet showed customers owed the business $14,500 from credit sales. Calculate the cash received from customers.
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5. (1) The income statement of New Gold Mountain Services for the year ending 31 October 2021 showed service revenue of $56,000. Sales made by the business is 80% received in cash and the remaining on account. The balance sheet as at 31 October 2020 , showed accounts receivable of $12,700 and the 2021 balance sheet showed customers owed the business $14,500 from credit sales. Calculate the cash received from customers

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