Question

Suppose Columbia Sportswear Company had accounts receivable of $300,612,000 at January 1, 2022, and $215,357,000 at December 31, 2022. Assume sales revenue was $1,232,059,000 for the year 2022.What is the amount of cash receipts from customers in 2022

Answer 1

The amount of cash receipts from customers in 2022 is $1,317,314,000

What is cash receipt?

This is an acknowledgement that cash has been received for goods sold.

Amount of cash receipts from customers in 2022

= Beginning sales + Sales revenue - Ending balance

= $300,612,000 + $1,232,059,000 - $215,357,000

= $1,317,314,000

Hence, the amount of cash receipts from customers in 2022 is $1,317,314,000

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