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A Company Reported Sales Revenue, All from Credit Sales, of $40,000

Question 108

Multiple Choice

A company reported Sales revenue, all from credit sales, of $40,000 on the Income Statement for the current year. The balance sheet includes the following: A company reported Sales revenue, all from credit sales, of $40,000 on the Income Statement for the current year. The balance sheet includes the following: What is the amount of cash that was collected during the year? A) $11,450 B) $51,450 C) $43,700 D) $38,200 What is the amount of cash that was collected during the year?


A) $11,450
B) $51,450
C) $43,700
D) $38,200

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