147) Data relating to three companies that each had sales of $850,000 during the year follow:
a) Company A's accounts receivable balance increased $217,500 during the year.
b) Company B had a beginning balance in accounts receivable of $328,400 and an ending balance of $142,900.
c) Company C had a decrease in its accounts receivable account of $53,200.
Determine the amount of cash collected from customers by each company.
148) The following statements represent several independent situations with an unknown value:
a) Payments for inventory for the current period are $375,000. Accounts payable on January 1 had a balance of $75,000 and a balance of $89,000 on December 31. Determine the amount of merchandise inventory purchased during the year.
b) Purchases of inventory on account during the current year amount to $275,000. Accounts payable on January 1 had a balance of $36,000 and a balance of $25,200 on December 31. Determine the cash payments to suppliers for purchases of inventory during the current period.
c) Accumulated amortization-equipment had a January 1 balance of $20,500 and a December 31 balance of $17,600. During the current period, equipment with a book value of $50,000 and a cost of $76,000, was sold for $47,500. Determine the current period's amortization expense.
d) Equipment (net) had a January 1 balance of $500,000 and a December 31 balance of $450,000. During the year, equipment costing $36,000 was purchased for cash. The income statement reports a loss on sale of equipment of $15,000. There were no other transactions affecting equipment during the year. Determine the cash received from the sale of the equipment.