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Problem 1: Custom Cabinets had total sales revenue for the year ending December 31, 2020 equal to $1,500,000 - 30% of which were on account. If accounts receivable had a beginning balance of $1,300,000 and an ending balance of $920,000, what amount of accounts receivable must have been paid during the year?
a. $1,880,000
b. $650,000
c. $380,000
d. $580,000
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In 2015 Tetra Corp. generated $583,000 in revenue and incurs $276,000 in expense. There are no payment or temporary book-tax difference.
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