If you started the year with AR of 100,000, had sales of 200,000, and had an ending AR of 50,000.
Just add begininng AR to the sales and subtract out ending AR. That's your cash you collected. Unless you wrote some
of the AR off during the year, but the exam won't be that tricky. Once you understand how income statement accounts
affect the balance sheet and accrual accounting it's a piece of cake.
FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.