Suppose Columbia Sportswear Company had accounts receivable of $321,721,500 on January 1, 2017, and $204,269,600 on December 31, 2017. Assume sales revenue was $1,266,847,700 for the year 2017. What is the amount of cash receipts from customers in 2017?

Answer: $1,384,299,600

Explanation:

Given that,

Accounts receivable = $321,721,500 on January 1, 2017

Accounts receivable = $204,269,600 on December 31, 2017

Sales revenue = $1,266,847,700 for the year 2017

In 2017,

Amount of cash receipts from customers in 2017:

= Beginning sales + Sales revenue - Ending balance

= $321,721,500 + $1,266,847,700 - $204,269,600

= $1,384,299,600