Multiple Choice
The 2016 income statement of Phillips Co.reported total sales revenue of $460,000;the 2015 balance sheet showed a balance in accounts receivable of $70,000 while the 2016 balance sheet showed a balance in accounts receivable of $100,000.The amount of cash collected from customers was:
A) $530,000.
B) $460,000.
C) $490,000.
D) $430,000.
Correct Answer:
Verified
Correct Answer:
Verified
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