Marke Inc. had cash sales of $400000 and credit sales of $1150000. The accounts receivable balance increased $30000 during the year. How much cash did Marke receive from its customers during the year?

A) $1520000
B) $1120000
C) $1550000
D) $780000

Accounts Receivable

Funds that customers owe to a business for products or services already provided but not paid for.

Credit Sales

Sales made by a business where the customer is allowed to pay at a later date.

Cash Sales

Transactions where payment is made in cash at the time of the sale, with immediate transfer of ownership and benefits.