Sales for Manfico roducts during 2010 wew $110,000, 75% of them on credit and 25% for cash. During the year, Accounts Receivable decreased from $88,000 to 78,000 a decrease of $10,000. What amount of cash did Manfico products receive frm customers during 2010?

Below is my work:

75% of $110,000= 82,500
25% of $110,000= 27,500

$27,500 cash
- $10,000
= $17,500 (cash received from customer 2010)

Here is the information provided:
Sales = $110,000
Credit Sales = 75%
Cash Sales =25%
Accounts Receivable beginning balance = $88,000
Accounts Receivable ending balance = $78,000

Your solution to the amount of sales is correct. However you need to add your credit sales to the beginning Account Receivable balance and then subtract out the ending Accounts Receivable balance.

So:
Credit Sales = $82,500 + Beginning A/R = $88,000 - Ending A/R $78,000 = Cash Collections on A/R $92,500

Now add your Cash Sales $27,500 and Cash Collections on A/R $92,500 = Total Cash Received from Customers $120,000

Thank you Pready,

I see the step I missed.