True/False
The sales revenue reported on the income statement for 20X1 totaled $96,000, of which one third was on credit. The 20X1 beginning balance of trade receivables was zero and the 20X1 ending balance reported on the statement of financial position was $10,000; therefore, the 20X1 cash inflow from customer sales was $86,000.
Correct Answer:
Verified
Correct Answer:
Verified
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