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Business, 06.04.2020 23:28 mkcryer50

The following information was taken from the current year finanical statements of Planet Corp.:

Accounts receivable, January 1 $ 21,600
Accounts receivable, December 31 30,400
Sales on account and cash sales 438,000
Uncollectible accounts 1,000

No accounts receivable were written off or recovered during the year. If the direct method is used in the current year cash flows, Planet should report cash collected from customers as

A. $447,800
B. $446,800
C.$429,200
D.$428,200

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The following information was taken from the current year finanical statements of Planet Corp.:
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