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10 July, 01:41

Malibu Company went into business in 2019 and in that year, its total sales were $62,000. At the end of 2019, Malibu had a balance in accounts receivable of $4,000 and a balance in unearned revenue of $1,000. How much did Malibu receive in cash during 2019? a. $62,000 b. $59.000 c. $65,000 d. $558.000

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  1. 10 July, 02:46
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    Option (b) is correct.

    Explanation:

    Given that,

    Total sales = $62,000

    At the end of 2019,

    Balance in accounts receivable = $4,000

    Balance in unearned revenue = $1,000

    Malibu receive in cash during 2019:

    = (Total Sales - Accounts receivable balance) + Balance in unearned revenue

    = ($62,000 - $4,000) + $1,000

    = $58,000 + $1,000

    = $59,000

    Therefore, the cash received by Malibu is $59,000.
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Home » Business » Malibu Company went into business in 2019 and in that year, its total sales were $62,000. At the end of 2019, Malibu had a balance in accounts receivable of $4,000 and a balance in unearned revenue of $1,000.
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