Suppose Columbia Sportswear Company had accounts receivable of $206,024,000 at the beginning of a recent year, and $267,653,000 at year-end. Sales revenue was $1,095,307,000 for the year. What is the amount of cash receipts from customers?

The amount of cash receipts from customers is $1,033,678,000

Explanation:

The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.

This may be expressed mathematically as

opening balance + sales - cash collected - amount written off = closing balance

$206,024,000 + $1,095,307,000 - cash collected = $267,653,000

Cash collected = $206,024,000 + $1,095,307,000 - $267,653,000

= $1,033,678,000

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